Move In Condition & Deposit
By JD Esajian on September 9, 2013
It is very rare that the removal of a tenant goes according to plan. In most cases, either the landlord is looking for money for damages or the tenant is looking to fight for their full security deposit. The best way to handle this is to have either a video or series of pictures taken of the property before the tenant moves in. Be sure to capture the move in condition so it can’t be disputed later. Too many landlords are in a hurry to get the property filled that they do not think of what will transpire in a year. No landlord ever thinks there will be issues with their tenants, but it happens and you need to protect yourself when it does.
As a landlord, the moving process is the most important time in the lease. Making sure the property is in move in condition is critical to any lease agreement. What is on the lease and how you handle the moving in process can tell you how the lease is going to go. Spend the time to take the pictures and video and make sure your tenant acknowledges your results. The same goes with your lease. Make sure you spend the time or money to have everything that you want in it. You want the lease to protect your interest in the worst case scenarios. We never expect a fire, robbery or injury, but they do happen and we need to prepare for it.
If you receive money for security and last month’s rent, you need to deposit that in a separate account. Your tenant is entitled to interest on that money and you have only 30 days to send it back to them depending on what state you are in. The bottom line is that it is not enough to just hurry a tenant into the property and hope things go smoothly. You need to spend the extra time and document the condition. It may be a burden now, but you will be glad you do when the lease is over.