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Updated over 5 years ago on . Most recent reply

User Stats

28
Posts
7
Votes
Bruce Gardner
  • Indianapolis, IN
7
Votes |
28
Posts

Partial Security Deposit and Selling Property, How to handle?

Bruce Gardner
  • Indianapolis, IN
Posted

I'm in the process of selling a duplex. One of the tenant security deposits only partially remains, and I'm not sure how this should be handled.  Any advice?

- Tenants paid $650 when moving in

- A few months later, tenants caused some "loss of income" as a result of violating their lease terms (Marijuana use and resulting excessive odor caused an AirBNB guest in the upstairs unit to cancel their extended stay early, costing me $450 in income).

- Via text-thread, Tenants agreed to (a) stop MJ use, and, (b) accept that I was taking the $450 out of their sec. deposit to cover the loss.

Now (about 6 months later) I'm selling the property and I'm not sure how to handle the fact that only $200 remains of the security deposit and that the only documentation of this is an old text thread.  Did I mess up with documentation, etc.?

Thoughts?

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