Deposit Return Process for Tenant Contracts
When a tenant is ending their contract, there are specific steps that need to be taken to return the security deposit they paid. Your security deposit return process should consider the current and overdue payments of the tenant to ensure that you are in compliance with your lease agreement.
How To Return Deposits
Please be sure to take into account the status of a tenant's payment when calculating the return. If the deposit does not cover all expenses associated with ending a tenant's agreement, the tenant is obligated to make a new payment to make up the difference.
Go on Return Deposit from the Tenant Profile to see it in action!
By familiarizing yourself with the deposit return process, you set yourself up for success when ending a tenant's lease agreement.