How to Setup a Standard Practice on Security Deposit Reimbursement
As a landlord, you should bear in mind that the security deposit is really not your money. As the name suggests, it is only a deposit that you keep while the tenant is still occupying the apartment. So unless he moves out leaving some out of the ordinary damage above and beyond wear and tear or you have some reason to penalize him, you would have return the whole amount to your tenant when he leaves. To be clear how much he would have to pay if he does not clean carpets before he leaves, for instance, you could give him a list of charges right when he signs the contract to rent the place. When the time comes for him to leave, he knows what he must do. You should inspect the apartment right after it is turned over to you. If the unit is unclean at all counts, you should assess the cleaning fees right away. If certain spots were left unclean, do the same for those areas only. Any damage that's more than the usual wear and tear should be charged as stated in the list of charges given to the tenant. All charges can be deducted from the security deposit. However, if the apartment is left spic and span, the moving out letter was sent on time, bills were paid in full and the tenant has no other violation you would have to send the security deposit back in full.