Deposit back to tenant who’s leaving early?

[Belinda Stoner]

I have a tenant who signed a year lease. He’s breaking the lease after only 4 months after getting transferred. Louisiana law states that any tenant who breaks a lease and leaves early (except under some circumstances, and this isn’t one of them) must continue paying rent for the duration of the lease or until I find a new tenant, whichever happens first. This is reiterated in my lease, and my tenant says he understands. But now he’s asking when he’ll get his deposit back. I explained that landlords usually have 30 days from the time the lease ends to return any part of the deposit owed, but I’m not sure how that will work since he’s leaving early. Am I supposed to return his deposit money within 30 days of him leaving? Or can I hang onto it until (a) his lease officially ends; or (b) until I find a new tenant?  I’m worried that if I don’t find a tenant soon, he might pay his next month’s rent that’s due; and then, after I return his deposit, he’ll decide not to pay any more rent. And then I won’t have the deposit money, either! The NOLA rental market, especially for the more expensive neighborhoods like the one my rental is in, has been slow. Properties are sitting on the market for months. Not sure what steps I can take to mitigate my losses. Any suggestions?