PropertyZar

When it comes times for your tenants to move out, landlords and property managers must decide if they can return the entire security deposit or not.

1 in 4 tenants say they did not receive the amount of return they were expecting. So, what is the deal?

Full Security Deposit Refund

Believe it or not, most property management companies want to return the full deposit to the tenant. Why? Because it would mean that the property was left in the same condition it started in. That’s good for the property management company as well as the property owner.

But the fact is some tenants do cause damage or leave the property in a state that requires some work to be done for the property to be “move in” ready.

Wear & Tear Vs Damage

States have established laws to help define what is wear and tear vs damage. In general, property management companies can deduct damages from the tenant’s security deposit. Here are some examples:

Wear And Tear

1. Minor nicks or nail holes in walls
2. Wood floors losing their finish