If you are a landlord, we recommend you to refer to our security deposit return letter document creation guides which include a list of pre-formatted templates and existing security deposit return letter samples. Having the right references when making the specific document can help you ensure that you will have the best quality for your output.
19+ Sample Security Deposit Return Letters
What Is a Security Deposit Return Letter?
“Porch, a home services platform, recently surveyed over 1,000 people- half renters and half landlords- to get some inside scoop on their rental experiences. The survey was designed to learn more about the relationship between landlords and tenants from each group’s perspective. 7% of landlords admitted they held back a security deposit unfairly. 4% of landlords reported returning tenants’ security deposits in full.” (source: visiolending) With these statistics, it is essential for you to make sure that you will be aware of ways on how you can protect your rights as a tenant. When browsing through your rental agreement, it is important for you to closely look at all the details written in the document including those that are related to the return of your security deposit. Knowing the agreement about the return of your security deposit can be very useful when it comes to getting the proper amount that you are entitled with as you end your lease term.
As a landlord, using a security deposit letter can help you allot when it comes to proving that you have already returned the security deposit of the tenant. Handing or sending this particular document to your tenant can also serve as the end of your responsibilities to him or her. Aside from these, having a copy of the security deposit return letter can be very useful for your tenancy information documentation and rental property data management.
A rental agreement format template can help a particular rental agreement be structured accordingly. The same goes when you use templates to format your security deposit return letter. Whether you are a landlord or a company that manages properties for rent, it is important for you to consider the development of a complete security deposit return letter. Are you still hesitant to make an excellent security deposit return letter? If you are unaware of the ways on how you can make this document in the best way possible, we recommend you to use references. Browse through the selection of downloadable templates and samples that we have made available in this post.
Standard Content of a Detailed Security Deposit Return Letter
If you want to make a security deposit return letter that is as effective as possible, it is necessary for you to ensure the comprehensiveness of the specific document. You have to know the basic information that you must collect, draft, and/or put together so you can have a relevant detail presentation. Do you want to know the common items that are seen in a simple security deposit return letter? The standard content inclusion found in a detailed security deposit return letter are as follows:
The date when the security deposit return letter has been written and when the security deposit has been returnedThe basic information of the landlord or property owner and the tenant who rented the propertyThe contact details of the property so that the tenant can easily reach them for updates or any inquiries about the security depositThe description of the property including its business addressThe duration of the lease and the amount of rent that needs to be given for a certain time periodThe amount paid by the tenant as a security depositThe increase or any changes of the pay rent within the duration of the rental term, if applicableThe specification or statement on whether full deposit has been returned or if there are any deductions madeThe itemized listing of all the deductions; which the total amount can be reflected on the amount of money that has not been returned to the tenantThe signature of the tenant and the landlord
Purpose of a Security Deposit Return Letter
Just like with the usage of rental applications, there are also valid and important reasons on why security deposit return letters need to be written. Hence, it is important for you to be aware of these reasons before you begin the development of a security deposit return letter. Being knowledgeable of the purposes that a security deposit return letter can serve can help you set the appropriate direction for its creation. Here are some of the purposes of making a security deposit return letter:
To properly inform the tenant about the related items aligned with the return of the security deposit that he or she has givenTo ensure that there is a proper statement of how much the tenant has received and how much deductions were made, if there are anyTo make sure that the landlord follows all the legality of the entire security deposit return transaction before the rental agreement formally comes to an endTo let all entities involved in the rental agreement be aware of the specifications of the security deposit return so a final agreement and interaction within the term of the lease can be made between the tenant and the landlord
10 Steps for Creating a Complete Security Deposit Return Letter
Do you think you will be needing extra help with the development of an excellent security deposit return letter? Fret not as we have all the things that you need. Aside from templates and samples, we can also provide you with a set of steps that can make it easier for you to create the best security deposit return letter that your business and your tenant can benefit from. Here is a ten-step procedure that can help you create a complete security deposit return letter:
1Download a template which you can use as a formatting guide when developing the layout of your security deposit return letter: Know the kind of discussion that you would like to have so you can get a security deposit return letter that can make it easier for you to lay out all the information about the subject matter the way you would like to.2Put the header of the property on top of the document: Your security deposit return letter should have the header of your business. Having a letter header can make the document look more professional. Aside from this, it can assure your tenant that the letter came from the property that he or she once rented.3Write the date when the security return deposit letter has been written: Never forget to write the date when you have sent the security deposit return letter to your tenant. This can be very useful when identifying on whether you are following state laws and the specifications of the rental agreement with regards the timely return of your tenant’s security deposit.4Have an accurate inside address: Write the name of the tenant whom you are expecting to receive the letter. Make sure that his or her name is complete and error-free. Aside from this information, specify the tenant’s address and contact information.5Use a formal salutation: Even if you can use a generic salutation for your security deposit return letter, it will still be best if you can address the tenant by his or her name. Doing this can set the formal tone and mood of the letter which is very important if you want to maintain a good relationship with your tenant.6Write a simple greeting and a comprehensive introduction: Begin your introduction by greeting your tenant. After this, directly specify the purpose of the letter. State that you will return the security deposit given by the tenant as well as the exact amount that is enclosed in the letter document. You can also include the specification of any deductions if there are any.7Provide supporting details to make the secuirty deposit return letter more transparent and clearer: The paragraph after your introduction must present the reason/s on why certain deductions has been made. Make sure to sight agreement clauses that are present in the rental agreement which the tenant has initially signed. If there are no deductions that will be executed, just provide a statement that the same amount of the deposit will be given back to the tenant. You can just further elaborate the process that you went through which allowed the security deposit to be returned just in time. Write additional paragraphs after this one if there are more details that you would like to disclose or relay to the tenant.8After the paragraph which contains the supporting details of the security deposit’s return, you can already develop a conclusion: This part of the security deposit return letter should encapsulate your message of appreciation for the transaction that you’ve had with the tenant. You can also use this chance to invite the tenant to rent your property again if he or she would want to in the near future.9End the security deposit return letter properly: Write a complimentary close to formally end the document. Write your name and affix your signature at the bottom of the document. If you haven’t included your contact information in your header, you can just write this detail below your name.10Polish the final version of the security deposit return letter document: Ensure that your security deposit return letter is updated and is free from any errors or mistakes. Review the document for a number of times so you can spot any items that needs to be changed or removed. Browsing through your security deposit return letter can also make it easier for you to know if there are other things that still needs to be added in the document to complete its content.
Factors to Consider When Developing an Outstanding Security Deposit Return Letter
Just like when making a rental agreement contract or any other business document, it will also be useful if you will refer to templates when developing your security deposit return letter. More so, you can consider reviewing and identifying the factors that can surely impact the quality of the security deposit return letter which you will be making. Below are some of the items that you have to look into if you want to begin the development of an outstanding security deposit return letter.
The detailed specification of the description of the property, the term of the lease or rent, and the agreement with regards security depositThe informative discussion of key points about the security deposit like it’s actual amount, terms of return, and potential deductionsThe transparent listing of all the details of any deductions being madeThe proper development of the security deposit return letter format and discussion flow to ensure that the document’s content will be understood by the tenant accordinglyThe clarity of the statement of the amount that will be returned to the tenant
Advantages of Having a Transparent Security Deposit Return Letter
Using a security deposit return letter can be beneficial to both the tenant and the landlord. There are a lot of benefits and advantages that can be experienced if a comprehensive, transparent, understandable, detailed, and well-made security deposit return letter will be created. Below are some of the many advantages of having a transparent security deposit return letter.
A security deposit return letter allows the tenant to have a physical document that can prove the receipt of the security deposit alongside the actual money that goes with it: If you want your tenant to have a written notice about the security deposit’s return, then it will be best if you can create a comprehensive security deposit return letter.A security deposit return letter can be used as an evidence should disputes arise in the future: Landlords need to meet or deliver their legal obligations and responsibilities. With this, a security deposit return letter can be optimized as a proof that a particular amount has already been given back to the tenant.A security deposit return letter can specify the total amount of the security deposit that is returned by the landlord: This document also includes the deductions that were made due to any repairs or maintenance that needs to be done in the property based on the agreement made by the landlord and the tenant. Having a security deposit return letter is very important as it helps the tenant be aware of all the deductions being done by the landlord as well as the reasons on why certain deductions materialized.A security deposit return letter can serve as a reference whenever records about security deposits are needed: The document specifies the date when the money has been returned and the amount of the security deposit given to the tenant. Having this document can enable you to properly record the transaction.
Dos and Don’ts for Writing an Excellent Security Deposit Return Letter
Your security deposit return letter is one of the necessary documents that you should develop before ending your relationship with a tenant. As you try to create this document, it will be advantageous on your part if you will have an idea about certain recommendations which can help better the output that you will come up with. Some tips and guidelines which you can incorporate in the development of your security deposit return letter include the following:
Do use a template that is easy to modify or edit so you can effectively structure the content specification and discussion flow of your security deposit return letter.Do ensure the proper and accurate specification of the date when the security deposit return letter has been made and signed.Do keep a copy of the security deposit return letter for referencing purposes.Do consider state laws and other legal matters so you can make sure that you will develop a highly-usable and effective security deposit return letter.Do look into the security deposit agreement that has been created and signed prior to the rental term to make sure that your security deposit return letter contains information that are based on what the tenant and the landlord has agreed upon with regards the particular matter.Do not overlook your rental agreements and other documents that specify agreement clauses and relevant items with regards security deposit and its return.Do not include any inaccurate information in the security deposit return letter as this can result to disputes, misunderstandings, and even legal or court cases.
If you want to create an effective security deposit return letter now, make sure to take note of the key points of discussion specified above. You can also optimize the available templates and samples that we have listed so you can have reliable references as you try to develop a security deposit return letter on your own.