Returning the Security Deposit...

[TomD]

What is the name of your state (only U.S. law)? NJ

Does the Security Deposit have to be in the tenants hands within 30 days or mailed to them within 30 days?

Also, I'll be returning the deposit by Certified Mail. Can I deduct those costs from the deposit?

Thanks

Tom

 

[Who's Liable?]

What is the name of your state (only U.S. law)? NJ

Does the Security Deposit have to be in the tenants hands within 30 days or mailed to them within 30 days?

Typically it's mailed within 30-days.

Also, I'll be returning the deposit by Certified Mail. Can I deduct those costs from the deposit?

Thanks

Tom

Don't be cheap. Mailing is a cost of doing business, you can't transfer that cost to your tenants.

 

[Zigner]

Why wait for the last minute? It's not like you gain a ton of interest.

 

[TomD]

I'm waiting for the cleaning to be done so that I can get a receipt... and the cleaning can't be done until repairs are made, which is happening next week.

Trust me, I'd much rather there were no issue so that I could have returned the Deposit the same day... this is not fun.

Thanks for the replies.

Tom