Lease facts vs memory of landlord...

[Ultrarunner]

We have no requirement to keep a security deposit separate...

You may be thinking of this bill which died...

http://leginfo.legislature.ca.gov/fa...201320140SB603

[Corn-fused]

Originally Posted by LifeIsGood01

Has she ever rented out before, whatever she does with the security deposit is where it will be. It's supposed to be kept in a safe place and not commingled with other funds.

In a few states they do require you to keep a deposit in a separate interest bearing account and advise the tenant where that account is located however, that is certainly not a requirement in the majority of states.

[toopie28]

So I wanted to update you guys - first as Corn-fused suggested we did the following for the year they rented:

total deposits - total rent due for full period living there = net balance.

Added up to them paying BOTH rent and security deposit. However I also asked them (in the meantime) to please see if they could find that payment since landlord was not well and couldn't remember and so on and thankfully they did. Found 2 checks - both cashier checks, one for rent. One for deposit. So all is well.

Anyway, thanks for your help with this - especially corn-fused.

[Corn-fused]

That is great news. I am glad you were able to get it all straightened out.


Thanks for the update.