LPA Newsletter - Security Deposit Disputes

Dear Fellow Landlord,

In this newsletter:

• Security Deposit Deductions & How to Enforce
  
• Minimize Move-out Damage & Cleanup 3 Free Printable Move-out forms!
  
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Wealth Secrets & Quotes
  

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great summer!
John Nuzzolese
John@theLPA.com

Security Deposit Deductions & How to Enforce Them

Have you ever had a tenant agree with the deductions you've had to take out of their security deposit? It would be extremely rare if you had. Most tenants are offended and hostile once they realize you have not returned their full security deposit. Even after doing all your landlord homework and supplying them a copy of your filled out and completed Security Settlement Statement and also if you used a Property Condition Report & Checklist signed by the tenants themselves at move-in, you will still have an argument from some tenants. More often than not, an offended tenant will threaten to sue you for the deposit. The arguments and calls from the former tenants can turn into harrassment and encroach on your valuable time and business. If you feel the situation is heading in that direction, it may be time to use the Security Settlement Challenge Crusher. I have used this tool many times and it has worked every time.

The purpose of the Security Settlement Challenge Crusher Letter is to quickly squash any unfounded tenant arguments about deductions from the security deposit refund.

Even though the Security Settlement Statement has already itemized the deductions in detail for the tenant, some people will still be determined to fight for what they feel is their money.

If you've held back deposit money from former tenants, you have probably been through some uncomfortable...

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You will likely minimize damage and clean-up by using the Move-out Reminder Letter, Security Settlement Charges Guide and Move-out Cleanup & Debris Letter.

Move Out Instructions Reminder Letter
has become an important time and money saver. We send this form to the tenants about a week or two before they vacate. It reminds them specifically of certain tasks and cleaning they should perform in order to get a full security refund. This letter instructs the tenants how to lock up and secure the rental until it can be inspected by the landlord/ management, and also where and how the tenants should return all keys.
We have found this form to be very effective and it helps tenants to be more cooperative on the way out.

Move Out Clean Up & Debris Letter
Have you ever wondered if the tenants would have done a better job vacating if you gave them specific instructions? Much like the LPA Move Out Reminder Letter, this reminds the tenants to not wait until their last day of tenancy to put out garbage and debris. They are urged avoid clean up charges and deductions from their security deposit and to make arrangements as soon as possible to get rid of their unwanted items, rather than leave them behind in or around the property.

Settlement Charges Guide
Alerts the tenant before or after tenancy what kind of move-out charges he or she can expect for damages, cleaning or neglect caused as a result of tenant's occupancy. Some landlords send this form along with the Security Deposit Settlement to show how certain deductions from the security were calculated. What many tenants consider "normal wear & tear" are really damages and neglect that they should pay for.

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The Landlord Protection Agency® presents John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.

John Reno also does Mortgage Loan Modifications (Nationwide).
(Mention The LPA for a 10% discount!)

Dear Mr. Reno:
My tenant signed a five-year contract with a home security company to install and monitor the rental property she lives in. One month later she told me what she had done and says she wants out of the contract. The company allows only three days to cancel the contract for any reason and the renter did not call the company to cancel the contract until later than three days. This was a nighttime door-to-door sales job and the equipment installer appeared about one hour later.

I suspect this kind of (blitz) sales job happens often. Can this contract be considered null and void because the home owner did not sign the contract and did not learn of the contract until one month after the fact?
Thanks,
Tom

A: The first thing they taught us in business law: You are bound by your contracts. So the tenant signed it. It's a contract. The tenant is liable. You didn't sign. You're off the hook. Congratulations?

If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Submit a landlord / tenant question for Mr. Reno
Please try to keep your questions as short and to the point as possible.

"Try not to become a man of success but rather to become a man of value." - Albert Einstein

"A strong positive mental attitude will create more miracles than any wonder drug." - Patricia Neal

"Do not go where the path may lead, go instead where there is no path and leave a trail." - Ralph Waldo Emerson

"How much did your last tenant problem cost you?" - John Nuzzolese

Have you ever been beaten by a tenant on the rent?
Most of us have and unfortunately, it is one of the costs of doing business as a landlord.
On the bright side, remedies are available. If you have documented your tenancy with the proper paperwork including a rental application, lease agreement, late notices, etc., you may have a chance of collecting.

Credit bureau reporting is an option in which many modern landlords are beginning to participate....

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If you haven't already, please take the opportunity to sign up for The LPA's Quick Check Credit Reports! Quick Check is a simple, fast way to access online credit reports while saving you money!