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Updated almost 3 years ago on . Most recent reply

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Samuel H.
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Security Deposit Refund Method - Money Order or Bank Check?

Samuel H.
Posted

Hello BP!  I'm a new landlord here, and I just had my first tenant move out (it was a VERY short lease).  I've gone through all of the steps for moving out, and now I only have to return the security deposit.  What method do y'all use for the refund, when you send the Disposition of Deposit?

A Personal check?  I don't really like this option because it would have my personal info and account number there.

A Money Order/Cashier's Check?  This would be vulnerable to theft, right?

Online Options?  I use TurboTenant for rent payments, but I don't know if there's an option there for refunds.

Anything else?  Let me know what y'all prefer to do.

Thanks!

Most Popular Reply

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David M.
  • Morris County, NJ
2,576
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David M.
  • Morris County, NJ
Replied

@Nathan Gesner

I have no idea why people nowadays have an aversion to using a personal check...  It probably linked to desire to latch on to the latest, greatest fandangled technology that came out.  investing and monetary transactions have been going on just fine for centuries without it all...  Not say some of it doesn't help --- i still prefer Excel to an old fashioned ledger, for example.

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