Security Deposit Blues

[Parrish Weaver]

I have a new tenant that signed a lease and paid a security deposit.  They have failed to pay rent for October (prorated) and now November (due on the 1st).  I am in the process of terminating the lease for failure to pay.  The tenant has not yet moved into the apartment; and does not have keys.  

Question:  Is the Tenant entitled to receive the Security Deposit refunded?

[Scott M.]

Yes.  You are still required to send them a disposition letter detailing the charges to them and how you applied the SD.  If there is an overage you need to give them that overage back.  If they owe you money you can make a demand for what they owe you according to the lease. 

This should be done according to your state / local laws (all have very specific timeframes and what needs to happen and when) after you terminate the lease successfully.