How to Help Your Tenants Retain their Security Deposit
Tips to Help Everyone Save Money
Landlords, rental property managers, and tenants agree on one thing: handling security deposits can be a pain in the neck for everyone. While there are those tenants who take meticulous care of rental property, others demonstrate an extreme lack of accountability and care. Then there are the tenants who just do not know the basics of home care.
While all of these groups are responsible for damages to your rental property on move-out day, it’s obvious which most landlords and property managers would prefer. What if you could help your tenants be better stewards of their rental home? Here’s how:
Let your new tenants know that it will help them retain more of their security deposit if they take good care of the property. These days, everyone is interested in saving money.
When conducting the move-in inspection, point out ways that your new tenants can help keep the property in the condition it is in—and receive the majority of their security deposit back. But don’t make any promises you can’t keep!
On move-in day, along with the rules and regulations and any other paperwork you provide, include a list of dos and don’ts for caring for your property.
1. Encourage tenants to clean up water spills immediately in the bathroom and kitchen.
2. Suggest that your tenants inspect under cabinets and along baseboards occasionally for signs of water damage.
3. Encourage your tenants to contact you at the first sign of damage—to prevent a small problem from becoming worse.
4. Either provide or inform tenants of approved picture-hanging hardware. Let them know of any weight limits on wall hangings, too—and strictly enforce it.
5. Let your tenants know if you’ve found a particular floor cleaner or carpet cleaner that works well.
6. Encourage use of hardwood protectors and carpet disks on all furniture to protect flooring.
These tips won’t prevent all damage to your rental property—but for some of your tenants, just knowing how to take care of things will encourage them to do so. It’s worth a try, just to eliminate one more source of landlord headaches!