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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Landlord-Tenant
Satisfied Customers: 113507
Experience:  Attorney with over 24 years experience.
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I had a property manager managing my rental property. All

Customer Question

I had a property manager managing my rental property. All repairs that were made came out of the rent. The renters paid a 1000 dollar deposit. their contract was up in September but they moved in August. Legally who does that deposit belong to? The peoperty manager states they will no longer manage my property because it is getting ready to go into foreclosure but they will still keep the deposit.
Submitted: 1 year ago.
Category: Landlord-Tenant
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Unless your property management contract states otherwise, the deposit is returned to the tenant or if there are legal deductions from that deposit they are for paying for repairs. If any of the repairs came from the rent payment, then the money goes to the landlord minus the management company's percentage if any under the contract. The deposit belongs to the tenant unless the tenant causes damage and then the deposit is used for any damage repair costs and anything left after damages are paid for goes back to the tenant.
Customer: replied 1 year ago.
The property manager does not want to manage the property anymore so they will not be making any repairs and the tenant moved out a month early breaking the lease. So doesn't the deposit go to me?
Customer: replied 1 year ago.
of course otherwise stated on the contract.
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
Yes, the deposit goes to you to pay for the damage and whatever you do not use to pay for the damage goes back to the tenant.