LANDLORDS!!! - How to Handle The security deposit?

[Cameron Riley]

- How do you handle your security deposit? Do you use it for fixing the damages during the tenants stay?

- When the tenant leaves and demands security deposit back, how do you handle this?

- In PA, I can hold for up to 30 days, should I use the security deposit to assess damages and wear&tear, then give them the remaining?

Example: Woman with 5 kids just moved out after 2 years, carpets are destroyed, it’s not normal wear and tear, I got a 1.2k security deposit. My damages to cover with the new carpet with be 800.00

should I give her partial deposit back? Should I hold it up to my 30 days before I even think of giving anything back?

[Thomas S.]

During your normal inspections  all tenant caused damage is repaired immediately and billed back to the tenant. Never use the deposit for repairs during the tenancy, Deposit is only to be applied to damage discovered after move out.

I inspect my properties quarterly. Change filters, check smoke/fire aarms, check for mold and over all upkeep of property, check all plumbing for leaks. Complete exterior inspection of structure and landscaping.