I'm selling a n occupied rental. Do i give deposit to new owner?

[Jarod Croy]

Im selling a few rentals that still have tenents in them. Do I turn over the deposets to new owner when I sell?

[Mike McCarthy]

Yup! The deposit is owned by the tenant and being held temporarily by you. It should be included in the closing statement. You’ll probably also owe the buyer some rent. For example, since tenants pay the month in advance, if you close on the 15th, you’d owe the buyer about half the month’s rent, from the 16th through 31st. Plan on also providing all lease documents to the buyer as well.