Roommate Sec Deposit

[Rob Alentajo]

How do you handle sec deposits in relation to roommates. I presume u divide the sec dep by the number of roommates, and each gets their own escrow account? Or do you put it one with all names on it?

What do you do when one vacates and is replaced? 

And ultimately when the final one or all vacate and there is some damage/severe cleaning to do?

[Conor Brennan]

Hey Rob, 

In my experience, I've seen people break each tenant out into its own security deposit account. This way they can close out that individual account when one roommate leaves, as you mentioned. Definitely typical in areas with college rentals!  

Best,
Conor