Security Deposit Itemization Form

!: Security Deposit Itemization Form

Almost every landlord requires a tenant to pay a security deposit when they rent a residence to them. Security deposits help ensure that the tenant doesn't damage the property, but is also often used as the last month's rent if the tenant gets behind on the rent (although in some areas this practice isn't legal). One legal form that is priceless when it comes to managing security deposits is the "Security Deposit Itemization Form."

This form is brought into use when a tenant moves from the residence, thus terminating their lease. At this time, the landlord has approximately 30 days to return the entire or partial security deposit back to the tenant. The best way to return a tenant's security deposit is to mail them a check along with the Security Deposit Itemization Form in an envelope through the mail. When part or all of the security deposit has been kept by the landlord because of property neglect and/or damages, the itemization form proves a vital piece of evidence showing in black and white exactly why the landlord kept all or a portion of the security deposit. Below are the specifications that are usually included on the above mentioned form.

1.) Important Dates and Info - Usually, the date that the form is being filled out, the date that the tenant moved into the property, the address of the property, and the forward address of the tenant that paid the deposit are all included at the beginning of the form.

2.) The Security Deposit Amount - The amount of the initial security deposit that was paid by the tenant at move-in.

3.) Itemized Damages and/or Repairs and Replacements - This is a detailed list of what the landlord is deducting from the tenant's security deposit. Here, a brief description and the exact amount of each deduction should be listed.

4.) Total Amount Deducted - This area is usually near the end of the form and is the total amount that the landlord owes back to the tenant after any deductions made in step three above. Included in this section is usually a small line to record the check number of the check that the landlord sends the tenant (for recording purposes).

5.) Comments - It is likely that the tenant will get upset if they do not receive their entire deposit back. The comments section is a good place to let the tenant know directly from the landlord why the deductions where made, and what proof he/she has indicating that the tenant was directly responsible.

Before the landlord fills out and mails the above form with the tenant's check (if there is one), make a copy of both the form and check for one's records. Nothing stands up in small-claims court like a professionally constructed paper trail.