Insights from the firm built for rental property owners
Although our previous broadcasts have largely focused on temperamental ordinances on the local level, security deposit accounting rules are governed by comparatively more static state law. If statutory obligations are not followed, landlords invite liability above and beyond the amount of the security deposit.
Our latest article provides a refresher of the statute owners need to rehearse to stay compliant and remove insecurity surrounding security deposits. If you'd rather click and play, watch our video that quite literally draws out an overview.
Although owners can make deductions for discrepancies that exceed “normal wear and tear,” this is an ambiguous term not defined by state law. Do not worry – our Security Deposit Deduction Guide provides greater clarity when making this judgment call.