Using Security Deposit to Tame Your Tenants

Property Management Blog

It is a desire of all landlords to see their tenants living permanently in their rental properties. However, in reality, tenants keep going out and coming in. It becomes a headache for you when a tenant leaves as you have to find a new tenant for the unit. You also need to do its cleaning and carry out repairs to make it attractive for the new tenant. This is why you want your tenant to hand over the unit to you in a clean and tidy condition. One way to ensure tenants hand over their units to you in a clean and good condition is to make use of their advance deposits.

Deductions from security deposit force tenants to hand over clean and tidy unit

As a landlord, you surely collect an advance deposit from your applicants before allowing them inside your rental property. Just make sure that you get signature of your tenants on a ‘receive your deposit back’ form at this time. Now, whenever a tenant expresses his desire to leave the premises, just give him this deposit form once again.

If you are wondering how this form will force your tenants to hand over a rent ready property to you, the secret lies in the clause inserted in this form. This clause says that your tenant has to hand over the unit in the same condition that he got it if he wishes to get his security deposit back. Also, do not forget to mention the costs of cleaning and replacing broken various items in the household. For example, you can mention the cost of replacing a worn out carpet, broken LED bulb, broken window glass, toilet seat, and so on. Mention charges for vacuuming and sweeping the unit also so that your tenants are compelled to do the cleaning properly before handing over the unit to you.

Mention all costs of cleaning, sweeping etc in security deposit form

By mentioning costs of cleaning, sweeping, and vacuuming, you will make sure that your tenant restores the unit to its original condition before moving out. It is only to give a shock to the tenant if he is planning to vacate the unit without cleaning it. Your goal is to rent out the unit as soon as possible once the tenant hands it over to you. Your tenant will think a hundred times before handing over the unit without cleaning it to you. This usually happens when you give the tenant ‘receive your deposit form’. To get back his deposit, he will do everything to make sure that the property is back into its original condition as he will be made to pay the costs that you have mentioned on it. He knows that you will add up all the costs and deduct the final amount from his advance deposit. This threat serves as a big incentive and your tenant fixes the problems and cleans up the unit as if his life depends upon it.

Fear of losing security deposit works on the minds of tenants

Tenants cannot be expected to take care of your property like you do. But when you have their money in the form of advance deposit, they will do anything to make sure there is no deduction and they get back the full amount. However, just because you have their money in your pocket doesn’t mean you need to be cruel to your tenants. Be magnanimous enough to consider wear and tear normal with use and passage of time though you can demand through cleaning of the walls, furniture, and the floors. Also, you are well within right to deduct money from deposit if you find any appliance or fixture broken.

If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty. 

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