General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago, 04/30/2021
How to valuate deductions from Security Deposit properly?
Our property is in Lake County, IL and we are going through a 1st transition from 1st tenants to our 2nd ones. Tenants that moved out this month, left some damages behind (some repairable and some not) as well as didn't do a proper cleaning upon their move out. So I was wondering how to valuate certain items while deducting them from the security deposit and do we have to provide them with the receipts for the services and items that have to be replaced or we don't have to, but just to put together itemized list of deductions for them with description of what it is and how much we charge them for it?
1. 3 chips (1 medium and 2 small) in a granite (I spent a whole week collecting quotes and going back and forth with different companies to make arrangements for the repair and companies are not very willing to come out any time soon, because it's too small of a job for them, therefore isn't worth their time, while they estimate quite a lot for the repair). So it might take a while to get that done.
2. 1 small dent on the door of the refrigerator - how much does this damage worth? It's a permanent damage and cannot be fixed.. Inside the refrigerator metal edges of the shelves are all dented and scratched.
3. They left stove and inside the oven filthy with dog's and cat's hair and debris inside, and kitchen floor wasn't even attempted to be mopped, stains are all over.
4. They asked to put only 1 TV on the wall and we allowed, but without our permission they drilled holes in almost every wall in the house, put 2 more TVs up and hung all kinds of other stuff, except 1 bedroom, so 1 living room wall looks bad and 2 bedrooms have all walls altered, and patches are poorly sanded. Per their lease (which is standard) after any approved or unapproved alterations is a tenant's responsibility to restore the property at their own expense to it's original condition (normal wear and tear is expected though, but that's not normal).
5. Drywall in the closets are severely damaged, very deep chips and scratches. Small drywall pieces are missing.
6. Brand new blinds (2 small ones in the living room) have been chewed up by their cat.
7. Dishwasher is dirty and has nasty white stains all over inside and some debris.
8. Grass was not cut before final inspection.
What's bad is that they used COVID as an excuse and denied us our "Right of Entry", so we weren't able to inspect the house and perform necessary repairs and routine maintenance. So we just saw our property after they moved out and the condition of it did not align AT ALL with how they described they left the house and expected a whole security deposit back!!! They've asked for and we've made a lot of exceptions for them throughout their tenancy, hoping they will honor the lease terms, take care of the Property and cooperate when required, but this did not happen. Now, after such contempt on their end to our rental and lease agreement, I see no reason to give them free pass with them turning our Property back to us in such condition and not charge them anything for that.. I was just wondering how to do it properly because by law I have only 30 days to return back to them the remaining of their security deposit, and granite people can only come out in 4-9 weeks to repair it? My idea was to take the medium quote (that one was unofficial, just a number "$455 + tax" from one of the companies) and charge them that amount and already not send them upon completion any receipts and be done with it, because quotes are just estimates and I don't know how much the final charges will be. The same goes to cleaning. Need to wait for those services but I can't wait with returning remaining of the security deposit.
Any suggestions on fair valuations of these items and if whether or not I should provide them with any receipts or just send quotes and charge them the medium amounts, and then for this money use whomever we choose and whoever will be available first, for repair, replacement and for cleaning of these items?
Thanks in advance!