Property Manager threatens to keep Security Deposit
I have a client who is renting now. She has been told that the house is now sold and she has to leave by the end of the month. What a stressor! The Property Manager has already told her that she will not be getting the Security Deposit back. Interesting position to take since the AZ LAW says differently. I just pulled www.azlawhelp.org and will summarize their opinion of AZ Security Deposit law.
A security deposit is money that a landlord is permitted to charge a tenant at the beginning of a lease agreement in order to ensure that if the tenant causes any damage to the unit beyond ordinary wear and tear. Additionally, if they move out without first paying all of the rent.
Under Arizona law, a landlord may ask for a security deposit up to an amount that is equal to 1.5 times a month’s rent.
Any non-refundable money must be stated explicitly in the lease, which must also include an explanation of the purpose of the non-refundable fee.
Landlord s are required to give the tenant:
1. a signed copy of the lease
2. a signed move-in form on which the tenant can record any damage to the unit that already exists
3. written notification that the tenant may be present at a move-out inspection.
At the termination of the rental agreement, the landlord may deduct from the security deposit:
1. any unpaid rent
2. costs required to repair any damage caused beyond ordinary wear and tear
3. other expenses incurred due to the tenant’s failure to fulfill the tenant’s obligations
4. any other charges that the lease specifically allows
After the landlord has deducted these amounts (if any), the landlord must return all remaining money from the security deposit.
A tenant who intends to vacate a rental unit should either hand deliver or send by registered or certified mail a letter to the landlord providing written notice of the date on which the tenant plans to move out and also requesting a move-out inspection date so that the tenant may be present.
When the tenant moves out, the tenant should also either hand deliver or send by registered or certified mail a letter to the landlord requesting the return of the tenant’s security deposit and providing the tenant’s new address.
Within 14 days after the tenant has moved out and the landlord has received the tenant’s Request for Return of Security Deposit, the landlord must provide the tenant with an itemized list of all the charges that the landlord intends to deduct as well as the balance of the security deposit itself. This list of deductions and any amount due must be sent by the landlord to the address identified in the tenant’s written request or to the tenant’s last known residence if no forwarding address was supplied.
This particular Property Management Firm had better not try to pull a fast one on my Client. My intention is to let them know that I am watching. If they continue to attempt a theft of her security deposit, I will take it up with his Broker and the Az dept. of real estate. Stay tuned….
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Best,
Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor
480-466-3737 (216) 703-5740
www.5kflatfeelisting.com by56083@gmail.com
nowlin.geoff@gmail.com
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