Q & A: Tenant won’t be getting full security deposit back, tell him now or later?
November 1, 2006
Q: We have a triplex and have a tenant who broke a fiberglass tub. I want to know do I have to inform him now, before he moves out that I am taking it out if his deposit, or can I inform him when he moves out with copies of the repair bills? I cannot wait for repairs due to dry rot issues if I leave it, and we live next door and do not want to create an uncomfortable situation by telling him this will cost him part of his deposit while he is still renting from us. The unit was completely remodeled when he moved in including the tub so there is no question as to the condition on move in, and he has been there more than a year. If it helps for the answer we live in Alaska. Thank You for your time
Thomas
A: There is no one answer to this question. Probably the best way to proceed is to send him a bill for the replacement of the tub while he lives there. He is responsible for the damage and unless he is completely irresponsible, he will realize that without your telling him.
About the Author: Bob Cain
Some 30 years ago Bob Cain went to a no-money-down seminar and got the notion that owning rental property would be just the best idea there is for making money. He bought some. Trouble was, what he learned at the seminar didn’t tell him how to make money on his rental property. He went looking for help in the form of a magazine or newsletter about the business. He couldn't find any.
Always ready to jump at a great idea, he decided he could put his speaking and writing skills to work and perform a valuable service for other investors who needed more information about property management. So Bob ferreted out the secrets, tricks and techniques of property management wherever he found them; then he passed them along to other landlords.
For over 25 years now, Bob has been publishing information, giving speeches, putting on seminars and workshops, and consulting for landlords on how to buy, rent and manage property more effectively.