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Unread 08-31-2007, 01:09 PM
 
2 posts, read 9,388 times
Reputation: 11
Default Security deposit return for multiple renters

Hello, I have given 30 days notice to vacate to my tenants. They have been trashing the place and after several warnings I have had it.

There are 5 people living in the house...3 (and 1 destructive dog) of which have lived there 1 year, the others for a couple of months. I know I will need to at least replace the front door and probably have it cleaned.

My question is this: Since the first 3 are the ones who trashed it can I deduct a certain percentage of the amount of damages from the securities of those who have been there the longest? Or do I take damages out of deposits equally and let the tenants hash it out between themselves?

Thanks for any info.
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Unread 08-31-2007, 01:30 PM
 
Location: Orlando FL
1,049 posts, read 2,544,498 times
Reputation: 381
Do you have them all on separate leases????

In any situation if you are very concerned find a real estate attorney. At the VERY least read up as much as you can here.

Landlords & Property Management - Resource Center (http://www.nolo.com/resource.cfm/catID/5944A0DA-71B3-49EA-BF5D300558FB66A9/213/178/ - broken link)
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Unread 09-01-2007, 02:15 PM
 
2 posts, read 9,388 times
Reputation: 11
They are all on the same lease, named individually. They each pay rent and an equal amount of security. From what I can find in my books, any deductions must be made equally and then the tenants work it out. This is what Ive decided to do

The most important thing I have learned is that when a tenant enters a lease with others it is their responsibility to make note of any damages so they dont get stuck fixing/paying for things they didn't break. This is something I have always encouraged my tenants to do (just in case of the situation they are now in) but surprisingly few take advantage.

Thanks for your input!
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Unread 09-01-2007, 02:38 PM
 
Location: Orlando FL
1,049 posts, read 2,544,498 times
Reputation: 381
Yes that is the way to handle it, They are all obligated to ONE lease, and the deposit is for that ONE lease. You got it right, You as the landlord don't have to work anything out with them individually it comes off the top, and they get to figure out who gets what's left over.
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Unread 09-01-2007, 08:45 PM
 
Location: Long Beach, CA
2,074 posts, read 7,714,281 times
Reputation: 1552
In california ........ the residents who sign the rental agreement, .you write the check out to all of them. They have to deal with it. Just make sure you do it within 21 days after you receive the keys.
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Unread 06-14-2013, 08:57 AM
 
1 posts, read 1,074 times
Reputation: 10
In CA if we have 2 tenants on a lease and one of them is moving out and the other staying how do we handle return of security deposit? Does it stay with the unit until all parties move out or does the leaving tenant get their half back now?
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Unread 06-14-2013, 11:19 AM
 
6,884 posts, read 3,830,783 times
Reputation: 9251
You deduct all charges and whatever is left, you put all their names on the pay-to line. They get to work out who gets what.
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Unread 06-14-2013, 11:23 AM
 
6,884 posts, read 3,830,783 times
Reputation: 9251
Quote:
Originally Posted by luxuryhomes View Post
..........Does it stay with the unit until all parties move out or does the leaving tenant get their half back now?
Landlord does not return any deposit money until the unit is returned to him. If some tenants are still there, or any of their stuff is there, the unit has not been returned to the landlord.

The leaving tenant can try to get his share back from the tenant who is staying, and then sign his share of the deposit over in writing, which would be submitted to the landlord. If the landlord is not notified, any refunds will still have the leaving tenant's name on the pay-to line of the check.
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Unread 06-14-2013, 11:57 AM
 
1,152 posts, read 634,830 times
Reputation: 1717
If the original lease was for two people and one is moving out, the original terms of the lease and security deposit remains. However, if you are releasing one party from the lease, you should be terminating the joint lease and entering into a new single lease. Return the security deposit to both as if both are vacating and collect a new security deposit from the single person staying under a new lease. Anything else has the potential of creating problems at some point.
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