What happens to the security deposit from my resident?
We account for the security deposit from your tenant separately as indicated on your owner’s statement. When the tenant moves out, we process the security deposit disposition and deduct all costs that are considered “beyond normal wear and tear” of the property from the security deposit. Tenants are informed of these potential costs prior to moving in as well as in their move out packet upon notification of move out. The tenant is issued their security deposit refund and any damages deducted from their deposit are then transferred into your operating account.
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