Think You Know California Security Deposits?

Take This 2-Minute Quiz!

Security deposits continue to be one of the most misunderstood topics in California property management. Laws have changed in recent years, and even experienced landlords and real estate professionals can be caught off guard by the details.

Whether you manage rental property, represent investors, or simply want to stay current, this quick 10-question quiz is a great way to test your knowledge.

Security Deposit Quiz

1. On a furnished unit with no exceptions today the maximum security deposit is ______________.

2. Security deposits must be kept in a trust fund account. True or False

3. Security deposits after legitimate deductions must be returned within __________ days.

4. A single individual who owns __________ or fewer residential rental properties may qualify for an exception allowing a two-month security deposit.

5. When a tenant moves out, costs to repair damages can be deducted but not costs for _________.

6. Receipts must be furnished to deduct damages if they exceed __________.

7. A tenant requests an inspection and a listing of "damages", the inspection must be held ________ days before move out.

8. If an owner acts in "bad faith", a court could allow a penalty of up to _________ times the deposit.

9. If the work can't be finished in 21 days, the owner must give a ___________.



10. California's security deposit laws are found in Civil Code Section __________.



📋 Answers are at the bottom of this newsletter

RENEW YOUR MLO LICENSE TODAY

Complete your 8-Hour NMLS Continuing Education Requirement—online or in person.

Live Webinar Classes

• August 14 • August 26

• September 14 • September 19 • September 30



9:00 AM – 4:30 PM PST

Attend from the comfort of your home or office for just $139, including your Certificate of Completion and NMLS Banking Fee.

REGISTER ONLINE TODAY »

Prefer an In-Person Class?

For just $10 more, complete your CE live in the classroom.

📍 Bakersfield – August 28

📍Corona – August 20 and October 8

📍Laguna Hills – October 2 and November 10

📍 San Mateo – September 17

📍Whittier – October 1

Only $149, including your Certificate of Completion and NMLS Banking Fee. Learn from experienced instructors, network with fellow mortgage professionals, and satisfy your annual NMLS CE requirement in one convenient day.

VIEW LIVE CLASS SCHEDULE & REGISTER »



BECOME A BROKER

Start your journey toward becoming a broker with our comprehensive Qualifying Courses. There’s no better time than now to advance your career and position yourself for greater earnings and independence in the year ahead.

CLICK HERE for more information!

BECOME A LICENSED SALESPERSON

Ready to start your career? Take our easy-to-complete online courses, featuring OPEN BOOK FINAL EXAMS, and qualify to sit for the State Exam. Click below to learn more:

Salesperson Courses Needed & Pricing



PASS THE CALIFORNIA REAL ESTATE LICENSE EXAM WITH CONFIDENCE

Looking for more in-depth preparation before taking the state exam?

Our comprehensive Real Estate License State Exam Prep course is designed to help you build confidence, strengthen your knowledge, and improve your chances of passing on the first try.

Only $150 — Includes:

• Full-day Live Webinar or In-Person Seminar with Experienced Instructors
• Simulated Practice Exams
• Online Flash Cards
• 369-Page State Exam Prep Textbook
• 291-Term Real Estate Glossary
• Expert Test-Taking Tips and Strategies

Whether you're just finishing your pre-licensing courses or preparing to schedule your exam, our Exam Prep Course gives you the tools you need to succeed.

Upcoming dates are available now.

REGISTER ONLINE TODAY



ANSWERS:

1. One month, new Bill AB 12, effective July 1, 2024

2. FALSE

3. 21 days

4. 2

5. Ordinary wear and tear

6. $125

7. 20 days

8. 2

9. good faith estimate

10. 1950.5

A Few Interesting Facts from California Civil Code Section 1950.5

Here are a couple of provisions that many landlords and property managers overlook:

• Advance Rent: The law does not prohibit a landlord from collecting six months' rent in advance if the lease term is six months or longer.
• Owner-Performed Repairs: If the landlord performs the repair work personally, the itemized statement must reasonably describe the work completed and include the time spent and the reasonable hourly rate charged.

Interested in learning more about California property management?

If you'd like to see additional Property Management classes or educational programs from Duane Gomer Education, simply reply to this email and let us know what topics you'd like us to cover.

Duane Gomer, CPM

Testimonials

• “Teachers were very knowledgeable and answered all my questions. Learned a lot today."

• "I just wanted to thank you for your wonderful school and preparation tatics. I passed my real estate license exam on the first try. Absolutely thrilled and excited to put more work in."

• "Class was great, not sure I could have passed the exams without it."

• "Enjoyed the seminar so much that I ran to and from the restroom when I needed a break so I wouldn't miss anything."

• "The best company that is used for any real estate education! In every single way. From receptionist to the instructor, all parties are helpful and make it too easy."

CONTACT US

Call (800) 439-4909 or (949) 457-8930

Visit our website: www.DuaneGomer.com 

Email us at: info@duanegomer.com

Duane Gomer Inc.: a NMLS-Approved provider #1400388

DRE Sponsor #0054 and Notary Vendor ID #600022