Security Deposit Settlement Wording - Landlord Forum thread 219698

Security Deposit Settlement Wording by TRM (IN) on March 18, 2011 @12:28

We have a tenant who not only broke their lease by moving out early without proper notice, but left damages. Although they owe us money, we are offering them a small portion of the deposit back (property owner's decision, not mine). Should we put any type of wording on the security deposit settlement form stating that acceptence of the refund prohibts them from coming back later and asking/suing for more money?

[ Reply ] [ Return to forum ]

Re: Security Deposit Settlement Wording by Patse (IL) on March 18, 2011 @14:07	[ Reply ]

yes, and document all the damages and the fact that they terminated their lease early.

Re: Security Deposit Settlement Wording by Ed (MI.) on March 22, 2011 @19:17	[ Reply ]

Most definitely , there is a security settlement receipt form on this site that is a free form , and also a settlement charges guide . Use them, tou may find out they don't have any deposit left ! I have found these forms very useful since I found them . I used to always under charge for damages , not anymore, since using these . If they broke the lease , by law , the deposit can be applied towards lost rents, also. I would not give them anything back without good reason such as a death in the family , loss of job, etc.

Re: Security Deposit Settlement Wording by BRAD 20,000 (IN) on March 23, 2011 @11:42	[ Reply ]

1. "I agree to this settlement" Signed ________________. 2. Don't forget Indiana's 45 day rule to provide deposit settlement notice in writing. Mail to last known address with Proof of Mailing form 3817 from post office. 3. Anybody can sue for anything. If they do, you have evidence they agreed. 4. Most people are dead broke. A few bucks sent their direction can catch their attention and make the problem instantly go away. If I give-in and return more than they expected, they grab it and run, feeling they won. Then I'm free of the problem and on to bigger issues rather than fretting over $100. Calls, letters, possible lawsuit (hits my credit score!) burn up my more of my time than the few bucks to make them happy. My freedom is worth more than a few extra bucks on a refund. Then take the wife to dinner.