Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

79
Posts
41
Votes
Remmy Vernon
  • Vilas, WI
41
Votes |
79
Posts

Security Deposit Return/Roommates

Remmy Vernon
  • Vilas, WI
Posted

Had a young couple move-in to one of our apartments. She bailed after 3 months. Luckily, he was able to find a roommate. ( he went through our application process etc. and was passed all criteria)

I use a lease that states 'All tenants if more than one, are jointly and severally liable for the full amount of any payments due under this agreement'.

I am trying to figure out what to do about the SD. My gut tells me I should not refund her half the deposit back. I feel like the SD stays with the lease. Is that correct?

On another note, she asked me for her half, and I told her that she should contact her EX and new roommate and that I felt they would make things right with her. Which I think they will. I only want to get involved if I have too. IE: force the new tenant to pay half, then give her half back. 

What have you guys done in the past in this situation? I want to be fair to everyone involved. 

Most Popular Reply

User Stats

2,667
Posts
1,760
Votes
Deanna McCormick
  • Minneapolis, MN
1,760
Votes |
2,667
Posts
Deanna McCormick
  • Minneapolis, MN
Replied

Normal practice is Security Deposit stays on apartment per original lease. 

Was she mutually permitted to sign off the lease.. If not then this should be done,, and that mutual roommate termination agreement usually states the security deposit remains on the apartment. and by signing it she relinquishes any claim.  So the roommate that stays or the roommate that comes in usually sets it straight among themselves with the person leaving.. 

When you return deposit put it in both names one check they'll need to both sign to deposit it and you won't have to worry about whose is whose

Loading replies...