Settlement Letter - Landlord Forum thread

Settlement Letter by Pamela (Mi) on June 29, 2012 @15:09

Can anyone help me with a settlement letter. We are offering a settlement to a prior tenant in lieu of going to court. I am looking for something that states if they cash the check they accept the terms of the settlement.

Thanks

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Re: Settlement Letter by Jake on June 29, 2012 @15:49	[ Reply ]

How long has it been since your tenant left?

Re: Settlement Letter

Re: Settlement Letter by Bryan (Ia) on June 29, 2012 @16:31	[ Reply ]

Did you send the SDSS within the 30 days as required by Mi. law?

Re: Settlement Letter by John on June 29, 2012 @19:14	[ Reply ]

A Restrictive Endorsement on the back of a Security Check such as "Full and Final Settlement" or "Payment in Full" would be a good idea. Google Restrictive Endorsements on checks for more info on the subject. A local attorney can also tell you more about it. I always have this on deposit return checks and have never had a problem with this.

Re: Settlement Letter by Katiekate (New York) on June 29, 2012 @20:32	[ Reply ]

Don't do it. You cannot try to withhold their money to get them to agree to your settlement. If you do and it goes to a judge..you could find yourself having all your charges denied and you could get handed 3x the SD amount awarded to the ex-tenant for damages based on your failure to comply with the State Landlord/tenant law. send the settlement statement. send the check (unconditional) to them, and if they wish to sue you for the difference ..at least you won't be in court trying to defend an illegal act (it's called an illegal retainer)

Re: Settlement Letter by Wilton O (IL) on June 29, 2012 @22:59	[ Reply ]

Never return security without writing or stamping the back of the check final settlement. Just dumb not to (as long as your refund amount is legit) Could this be challenged in some states by a tenant who has more legal knowledge than my lawyer? Sure. Will the tenant win? Prob not. First the tenant has to be right and can back up why he is contesting the amount of the refund. (Most likely never gonna happen) 2nd, if you are afraid that you unfairly ripped off the tenant's security, a smart tenant can have a successful case against you no matter what is on the check.