Take your time! Don’t be in a rush. Follow the requirements of the law, but make sure your inspection is thorough before returning the deposit and preparing for the next tenant to move in. Check with your local laws or consult your attorney regarding how much time you can take to get this inspection done and return the deposit. Most areas allow a little bit of time. It’s common to have a weeklong, 14-day, or even a 30-day timeframe during which you can inspect the property and ensure everything is in good shape before you return the security deposit. Note: If the tenant insists on meeting with you in person at the property when you’re doing your walkthrough, don’t allow it. Do everything you can to avoid doing the walkthrough with the tenant there. You want to focus on the property inspection, not on small talk, or having the tenant distract from an issue they might be hiding or talk you into returning the deposit sooner than you’re comfortable with.
CHECKLIST TO FOLLOW BEFORE RELEASING A SECURITY DEPOSIT
Remember, while some wear and tear after a tenant moves out is normal, other things are not. If any of these issues crop up, you can take the time to hold the deposit, deal with the issue before the next tenant moves in, and take the repair fees out of the security deposit. Here are some of the things you’ll want to check for before you release an exiting tenant’s security deposit:
Odors
First, you want to check for any potential odors. If you walk into a room and you smell a strong room fragrance, air freshener, or strong cleaning products (like bleach), that’s a red flag that the tenant is trying to mask an underlying odor, such as from pets or
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