Just for Property Managers, Manager News, Rob's Tips, Uncategorized
At the peak of the renting season, which is now for many markets around the country, everyone is usually at their busiest. A disproportionate number of landlord-tenant disputes over the years have resulted from the handling, and sometimes mishandling, of security deposits. In the world of social media today, it is especially critical to fairly treat a resident who has just vacated your rental unit.
A great opportunity to leave a positive impression on a resident who has just moved from your rental unit is to quickly refund their security deposit. As busy as this business is, and more so at peaks times of the year, it is important to have procedures in place which expedite the disposition of a security deposit – especially one in which there are no deductions for damages.
Referrals from former residents are the best compliments and new business opportunities that a property manager can receive. It is especially important to be given high marks by previous renters with all of the online social media available to them today. A quick security deposit refund may be worth more than what a property manager realizes and it is the last memory that former renters will have of their occupancy in your rental property. Make it a good one!
July 16th, 2009 at 11:26 am
I do agree with your article. However, I have been experiencing a lot of security deposit disputes over the amount of cleaning charges. I have seen more skips lately and yet the tenants are expecting their security deposit refunded. They do not show for walk out inspections and then dispute the return. It just seems the tenants are becoming more demanding and less responsible.
Alice