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Updated over 7 years ago on . Most recent reply

User Stats

18
Posts
2
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Pawel N.
  • Investor
  • Blacksburg, VA
2
Votes |
18
Posts

Damage bigger than security deposit?

Pawel N.
  • Investor
  • Blacksburg, VA
Posted

What's the best way to deal with damage to the house which exceeds the security deposit? Do I send the tenants the bill for the damage? What should I do if there are two unrelated tenants? 

Most Popular Reply

User Stats

432
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481
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Jim Shepard
  • Investor
  • Edwardsville, IL
481
Votes |
432
Posts
Jim Shepard
  • Investor
  • Edwardsville, IL
Replied

You need to send both a letter with the damages that you are charging them for with dollar amounts. Make sure that you follow your state's guidelines for getting them the letter in a timely matter. Tell them that they are jointly and severely responsible for the damages and any amount over and above the security deposit is due immediately. If they don't pay, take them to small claims court. If you get a judgement in your favor, you may not get paid immediately. A judgement is good for a number of years (check your state). Take LOTS of pictures for the judge!

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