Your agent should be giving the buyer a "Notice to Perform" at this point warning the buyer to close ASAP or you will take their deposit.

Does anyone know if when a security deposit and/or last month's rent is transferred to the new owner at closing are you required to send the tenant a notice that you now have their deposit?

For example: In California (where I used to work) a contractor can only ask for $1,000 or 10%, whichever is lower, as a deposit.

I've seen investors buy properties and later discover the tenants rent was higher/lower than promised or the Tenant claimed to have paid a security deposit but the owner swears they did not.

My question would then be, what governs these building types with regards to landlord-tenant rights, landlord responsibilities, security deposits, etc.?

A good contractor always provides the customer with a contract stating the description of the work , materials , and timeline for the work , along with deposit , payment schedule , delay clause , extra work out of the scope clause , and so on .

Copies of all rent checks along with deposit slips.3.

I asked my tenant to pay the rent by direct deposit thinking that would be something similar to salary direct deposit but the renter told me that his bank needs to deposit a small amount to my bank and then withdraw it.

Taxes, insurance, management (even if you do it yourself), maintenance, vacancy, advertising, utilities (even if only during vacancies), entity maintenance, office supplies, legal fees, capital expense (not technically an operating expense), evictions, lawsuits, damage done by tenants in excess of the security deposit, etc, etc, etc.Mike

We try to shift these expenses to the tenants via charges to their security deposits.