Property Management Experts Warn Renters to Avoid Security Deposit Troubles
Nation's Leading Property Management Franchise Issues Guidelines for Busy Summer Moving Season
SALT LAKE CITY, Utah – July 16. 2013 - In the height of moving and apartment leasing season, leading property management franchise Real Property Management is addressing an issue that many renters face: not getting the majority or any of their security deposit back after move-out. In fact, according to a recent Rent.com survey, more than 25 percent of American renters lose their security deposit upon move-out, which can amount to more than an entire month’s rent.
“There are various reasons tenants wouldn’t get the security deposit back in full, such as pet damage, unauthorized renovations, or even leaving the unit dirty after move-out,” said Chuck Thompson, COO of Real Property Management, clarifying a security deposit is not only the collateral to hold the unit, but also the amount used to fix any damage done during the leasing time.
Real Property Management advises renters on the following ways to ensure maximum return of the security deposit, creating a seamless experience for both renters and landlords:
- Upon move-in read the fine print; make sure all parties are clear on responsibilities and terms of the lease including the advance notice required to vacate.
- Photograph the unit with date stamps before and after the leasing term as evidence for damage cost responsibility.
- While a tenant, make sure you report all maintenance issues as they occur.
- Receive verbal and written approval before nailing holes or painting; small fees to supplement repairs add up.
- If you are housing pets, be sure they are all documented with the leasing office; pet wear-and-tear may not be covered minimizing the return.
- Have the house professionally cleaned and make sure the refrigerator and oven are clean.
- Return all keys, remotes and entry cards.
- Know your state’s law regarding what is deemed suitable use for the security deposit and the timeline for a return.
Due to the increasing rental market and need for professional management, Real Property Management has doubled in size over the past two years. Growing to more than 220 offices in 45 states and managing assets worth more than $5 billion it anchors itself as the nation’s leading residential property management company, and the only property management franchise with a national footprint.
About Real Property Management
Real Property Management is a privately held, Utah based corporation with over 25 years of experience providing full-service residential property management for investors and homeowners throughout the United States and Canada. For more information about Real Property Management, property management services or franchising opportunities, visit www.realpropertymgt.com.
SOURCE: Real Property Management