What The LPA says you should do and what you should not do about:
- Have a signed and fully documented Property Condition Report
- Have the tenants prepared with a Tenant Notice of Intention to Vacate Letter
- Use a Security Settlement Statement to itemize deductions and to accompany the return of the tenant’s deposit.
- Use a Security Settlement Challenge Crusher letter to deal with any complaints about deductions from the deposit.
- tell the tenants that they will not be getting their security deposit back. Let them see that on the Security Settlement Statement.
- return any security deposit until after tenant vacates and the rental has been inspected for damages