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Updated almost 8 years ago on . Most recent reply

Luke H.'s profile image
Luke H.'s profile image
Luke H.
  • Real Estate Investor
  • from Dallas, Texas
  • Member since Dec 16, 2013
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Luke H.'s profile image
Luke H.'s profile image
Luke H.
  • Real Estate Investor
  • from Dallas, Texas
  • Member since Dec 16, 2013
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Luke H.
  • Real Estate Investor
  • Dallas, TX
169
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386
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General Landlording & Rental Properties

Riddle | Security Deposit After 1 tenant leaves

Luke H.
  • Real Estate Investor
  • Dallas, TX
Posted

I have 3 tenants on lease. I got a money order for the security deposit.  At the end of the year 1 tenant leaves and a new tenant is added.  How should I handle the security deposit?

Thanks

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Matthew Olszak
  • Real Estate Broker
  • from Chicago, IL
  • Member since Jun 9, 2015
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Matthew Olszak's profile image
Matthew Olszak
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  • from Chicago, IL
  • Member since Jun 9, 2015
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Matthew Olszak
  • Real Estate Broker
  • Chicago, IL
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Matthew Olszak
  • Real Estate Broker
  • Chicago, IL
Replied

1 lease, 1 security deposit. Security deposit doesn't get returned until the lease ends and is returned in a single check. How the tenants want to work out splitting it is their business.

  • Matthew Olszak
  • [email protected]
  • 847-447-6824
    • 5 Votes
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