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Updated 5 months ago on . Most recent reply
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How Much Subtract from the Security Deposit
My tenant moved out a couple of days ago, and when I walked through the unit, I discovered that he had removed the curtain and curtain rod, detached the room air conditioner, and caused significant scratches on the hardwood floor from the metal bed frame legs. I have photos to document these issues. My question is how much I should charge him for each of these items. Is there any reference I can consult for guidance on these issues? Also, do you typically get a quote from a local handyman for repairs?
I really appreciate your time in advance.
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- Real Estate Broker
- Cody, WY
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Quote from @Kathleen Park:
I recommend you educate yourself on "ordinary wear-and-tear" vs damages, depreciation, and your state laws.
Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them. It's updated yearly and is the best $40 you'll spend as a Landlord.
- Nathan Gesner
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