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Updated almost 5 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Paul Ksenofontov
  • Rental Property Investor
  • Portland, OR
2
Votes |
11
Posts

Can I deduct from an inherited security deposit

Paul Ksenofontov
  • Rental Property Investor
  • Portland, OR
Posted

Hello all,

I recently purchased my first multi family and inherited two tenants. We successfully evicted one of the units to occupy that side. The tenant who we have evicted had a 2,000 dollar security deposit that we currently still have

By Oregon law we have to give this deposit back in 30 days.

My question is... because the tenant and security deposit was inherited and we do not know the true starting condition of the unit when their tenancy began are we able to deduct from the deposit to fix things like carpet etc? Or would it be best to just return the full deposit and start fresh.

Anything would help!

Thank you

Paul

Most Popular Reply

User Stats

11
Posts
2
Votes
Paul Ksenofontov
  • Rental Property Investor
  • Portland, OR
2
Votes |
11
Posts
Paul Ksenofontov
  • Rental Property Investor
  • Portland, OR
Replied

@Todd Rasmussen

Thanks Todd. This seems like what will end up happening unless I can drum up a checklist from the old property management company on the condition the unit was in when they initially signed the lease.

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