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Security Deposit Procedures by a Hayward Property Manager

Deanna Hansen - Friday, May 17, 2013

When it comes to security deposit procedures in Hayward, it is important that you follow California law when returning security deposits to your tenants. Otherwise, the tenants can take you to court and you could be liable for up to three times the amount of the security deposit. That’s a lot of money, so get to know the law and make sure you handle security deposits properly.

California law states that you must refund the deposit to your tenants within 21 days of the tenants turning possession of the property back over to you. California law also states that if you are going to deduct anything from the security deposit, you must provide the tenants with a receipt for whatever work was necessary. For example, if you need to have the carpet cleaned because the tenants did not do it, clean the carpet and then supply a receipt showing how much you had to pay for that cleanup. If you need to have the floor replaced because of damage caused by the tenants, you need to provide a receipt for the work that was done.

You will also need to prorate certain items. For example, a floor replacement or a paint job you need to do inside the house has to be prorated based on the amount of time the tenant lived in that property.

If you cannot get the necessary things taken care of within the 21 day timeframe required by California law, you must give a good faith estimate of the charges. You might get a bid for the floor work that you plan to do, and if that estimate is $2,000, you can go ahead and make a good faith estimate within your 21 days. Once the floor is completed and you have receipts actually come in to you, you can make any neces Security Deposit Procedures by a Hayward Property Managersary adjustments to the security deposit and send out another letter with the refund. Just make sure you document your estimate as well as the final receipts. The tenant might get more back that you initially thought.

Please do not hesitate to contact us at Aapex Property Management if you have any questions about security deposits or how they pertain to California law. Thank you for reading out blog.
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