Security Deposit Checklist

Security Deposit Amount

Security Deposit Refund

Security Deposit Refund Procedures

Security Deposit Checklist for Property Managers

As a property manager, it is important to understand and follow the guidelines for security deposits. Here is a checklist to make sure you are staying on track throughout the process.

Before Tenancy Begins

1. Inform the tenant of the amount of the security deposit, in writing.

2. Put the security deposit into a trust account.

3. Provide the tenant with the name and address of the bank or financial institution where the security deposit is held.

During Tenancy

1. Provide the tenant with a receipt for the security deposit.

2. Maintain accurate records of the security deposit and its disbursement.

3. Keep all security deposits in a separate trust account.

After Tenancy

1. Perform a move-in/move-out inspection with the tenant.

2. Provide the tenant with an itemized list of any deductions from their security deposit.

3. Return any unused portion of the security deposit within 30 days of the tenancy ending.

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