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Updated about 5 years ago on . Most recent reply

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70
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Tony Hightower
  • Rental Property Investor
  • Clarksville, Tenn
33
Votes |
70
Posts

Keep deposit on damaged linoleum?

Tony Hightower
  • Rental Property Investor
  • Clarksville, Tenn
Posted

Would you keep all of a deposit based on damaged linoleum? It will cost the deposit to get it replaced.

It might sound like a silly question, but are there damages you just let go?

There is also a missing smoke detector and a few other small things, like drawers not closing correctly.

Most Popular Reply

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,072
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28,065
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Yes, you can keep the deposit as long as the charge is justified.

You may be able to repair that by patching in a replacement piece. If not, then the entire floor will need to be replaced. If making a repair, I charge for the cost of the repair and refund the remainder of the deposit.

If I am charging for replacement, then I consider the age of the current floor, remaining life expectancy, and other factors to determine how much to charge. For example, if the floor is ten years old and the life expectancy is 20 years, then I would charge the tenant 50% of replacement cost. However, if the floor is ten years old but in perfect condition, it may have a remaining life expectancy of 15 - 20 years and I may charge more.

I feel the honest thing to do is put some thought into it and ensure you're charges are fair and can be defended in front of a judge.

  • Nathan Gesner
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