Re: security deposit - Landlord Forum thread

Re: security deposit by Stephen (WA) on May 11, 2012 @01:14

Maybe I missed something, but it looks to me as though you received $1050 for deposit. Of course if you don't use it as deposit (either returning it or expending it against costs owed by the tenant) then is it taxable income to you.

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Re: security deposit by Anonymous on May 11, 2012 @05:45	[ Reply ]

oh, maybe my writing was confusing. I purchased a studio from a seller. The seller had a tenant there already. The security deposit amount the tenant paid to the seller was $500. The rent was $1050, so I asked the seller to ask the tenant $550 more for security deposit at the closing. The seller didn't ask the tenant and just gave me $550 in cash. The seller was thinking it was just $550 discount from the property deal. So basically, the tenant paid $500 to the seller, none to me. The bank records from seller and me can prove that. The tenant is saying that she paid $1050 to the seller and $500 to me. When I asked her to provide by providing bank records for the payments, she said she will not unless I give up the last month rent. She doesn't want to pay the last month rent so she's trying anything. The only problem is the seller signed a document saying the security deposit was $1050 by mistake. Our attorney who thought the deposit was $1050 gave her a notice of ownership change that states security deposit amount of $1050. The seller signed so many documents that day (it was the closing day for the property) after two hours of signing things, she just signed anything there. After that, I even thought the deposit was $1050, so two more documents (The security deposit bank statement & a lease contract in 2010) were made based on that. The next year, while I was negotiating rent for new lease with the tenant, we found out about it. So we fixed it 2011 lease contract, which is the most current one, states the deposit amount is $500. I have the tenant's email saying the deposit amount is $500. But now she's saying email is inadmissible in court without some IT expert, and the actual deposit was $1550. By doing so, she just trying to get out of paying the last month rent which is $1200. I'm a first time landlord and a new mom. I should've been more thorough. I'm learning a lot here. I'm just preparing for small claims court, and I want to know if the court can say the deposit is $1550 in this case.

Re: security deposit by Anonymous on May 11, 2012 @07:19	[ Reply ]

It's a 50/50 chance that the email is admissible BUT the tenant has a legal document signed by you and the original owner stating transferring ownership and the security deposit for the amount of $1050. Unless you have something amended in the closing documents to show it was a mistake, then that document will put you on the hook for $1050. It doesn't matter if it was sent out by mistake. If the tenant can prove with strong evidence that she gave your an additional $500 then the court will award her what she can prove.