Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 12 years ago,

User Stats

19
Posts
1
Votes
Isaac Isaacson
  • Investor
  • New Orleans, LA
1
Votes |
19
Posts

Deposit Return Letter Example - Early Termination

Isaac Isaacson
  • Investor
  • New Orleans, LA
Posted

Does anyone have a deposit return letter they can link to or send? I am not seeing one in the resource section.

This will be the first time I am keeping a substantial amount of a tenant's deposit and want to make sure the letter says everything it needs to. Obviously, I will be itemize everything as well.

Also, this is an unsual situation, so any advise/suggestions is appreciated... We both agreed to early termination after the property was substantially damaged by a recent hurricane. They stayed in the house two weeks after that while looking for another place. I finally gave them 2/3 (2 of $3k) of their deposit back just to get them the hell out so I could address the damages and keep them from getting worse (flooded, wooden floors buckled, mold growing underneath, etc). Obviously they are not responsible for any of the weather related damage; however, they had the power shut off and left spilt food all in the fridge/freezer, did not clean any bathrooms or kitchen, broke the built-in stereo system, left nails in every wall, paid nothing for the 14+ days after damage (we agreed to 50% of regular rent), the list goes on.

Tenants were in the house literally a month before this hurricane hit. They have been nothing but problems, threatening me with lawyers daily, calling me names, breaking pet policy (counted 6 dogs at one time), "injuring" themselves and filing under my liability policy, etc... all reasons I decided to evoke termination... Rant done. Thanks.

Loading replies...