Sunday, September 20, 2009

Cleaning and Repairs Charged by the Landlord

There is a notable difference in a security deposit and cleaning deposit; what the funds collected can be used for or applied to when renting or leasing a rental property. First, as a landlord you should be aware of your states Landlord Tenant Act and its requirements when collecting a deposit and the rules for refunding all or part of this highly disputed deposit. Having a clear understanding of the rules will alleviate a landlord tenant dispute that will inevitably arise with your tenant.

In general, a cleaning deposit is just what it sounds like; cleaning of the property. This deposit can be applied only to the cleaning of the property. No more - no less. A security deposit, on the other hand, can be applied to any and all defects found in the property such as cleaning, damages, repairs, rent, fees, etc. One stipulation in this law is the items the security deposit is being applied to should be stated in the lease agreement and both parties must agree. Upon vacating it is within the tenant rights to receive a written notice from the landlord stating the disbursement or refund of these funds.

Now take a step back to the beginning of the leasing process. Your property is ready to be rented and a suitable candidate has been approved. What is the first thing you should do when getting your lease agreement together for the tenant to sign? A move in condition form; this is one of the most important forms you will use other than the lease itself. If you don’t use a printed form have a detailed note signed and dated with your tenant. If you neglect this step then how can you refute cleaning or damages when the tenant vacates your property? You could very well lose if your case ends up in court. Every landlord should use some type of move in and move out condition form. A move in condition form should clearly detail the condition of the property, both the good condition and details of a defect. Each extreme is noteworthy and could save you hundreds if not thousands of dollars in legal fees and repairs. Know your states leasing laws and the stipulations that apply. Stating in the lease the collected funds are a security deposit is more flexible for use as a landlord and holds the tenant responsible for the entire property unlike the cleaning deposit which covers only cleaning.

For additional information on this and other renting articles please visit our website at www.mrpmrentals.com

Mountain Ridge Property Management
Your Property Management Source

No comments:

Post a Comment