As a tenant or property owner, understanding security deposits is key to ensuring a smooth rental experience. Whether you're renting a property through WH Property Management or partnering with us to lease and manage your home, this guide will clarify the essentials of security deposits, define responsibilities, and provide actionable tips to avoid common disputes.
What Is a Security Deposit?
A security deposit is a sum of money collected from tenants at the beginning of a lease to cover potential damages or unpaid rent. It's not just a formality—it’s a safeguard for both tenants and landlords.
At WHPM, we despise keeping even a portion of tenants’ security deposits. You as the tenant are upset you’re not getting your money back; the owner is mad because there’s damage to their property; and we’re annoyed because we have to conduct repairs/cleaning that only slows the process of us re-renting the unit. As your property manager, we believe in transparency and aim to help tenants keep their deposits intact while assisting property owners in maintaining their investment. It's WIN-WIN!
Landlord Responsibilities
While tenants are responsible for neglect, misuse, or accidents, landlords are responsible for maintaining the property's overall functionality and safety. Here’s what property owners typically cover:
Structural Repairs
Addressing leaks, repairing broken windows, or fixing roof damage.
Appliances
Repairing or replacing owner-provided appliances that break due to wear and tear.
HVAC System Maintenance
Ensuring heating and cooling systems are operational and in good condition.
Lifespans of Carpet and Paint (State of Tennessee Landlord Laws)
Paint: 3 years
Carpet: 5 years
Unfortunately, WHPM will not be able to charge the tenant’s security deposit to replace these items if they’re older than the above specified lifespan.
Tenant Responsibilities
Document Everything
WHPM provides full move-in inspections complete with photos and notes. You’ll have access to this at move-in and you’re able to provide additional information/notes. This inspection will be compared to your move-out inspection.
Communicate Promptly
Report damages or maintenance issues as soon as they arise to prevent them from worsening and causing more harm to the property.
Follow the Lease Agreement
Familiarize yourself with rules regarding painting, pets, or making modifications to the property.
No smoking of any kind in the property.
Deep Clean Before Moving Out
Before moving out, tenants should ask themselves, “Am I returning the property in the same level of cleanliness as I received it?” Don’t overlook areas like carpets, walls, and windows. 90% of the time, a portion of security deposits are withheld due to failure to clean appliances like the oven, fridge, and microwave.
Pest Control
Prevent infestations by keeping the property clean and free of food debris. If pests are found and deemed a result of cleanliness, tenants may be held responsible.
It's YOUR money - get it back!
Here are common reasons we have to withhold security deposits and what you can avoid:
- Not performing a deep clean. Was the property returned to us in the same level of cleanliness as you received it?
- Smoking of any kind in the unit
- Not cleaning up after your pet (that includes yard waste)
- Leaving windows open while raining
- Forgetting to clean appliances
- Neglect of property and failure to alert us of any leaks or other issues that can further damage the property
- Not changing air filters every 90 days causing damage to the HVAC system
- Carpet stains
- Drywall holes bigger than a nail
- Failure to return keys and garage door openers
Common Disputes and How to Resolve Them
Security deposit disputes often stem from disagreements over cleaning, damages, or unpaid rent. Here's how WH Property Management fosters clarity:
Transparency: We provide detailed move-in and move-out inspections to clearly document property conditions. This eliminates any room for dispute on property damages.
Clear Communication: Tenants receive clear explanations of any deductions, along with itemized receipts if applicable. We also provide tenants with a detailed list at move-in with common reasons security deposits are withheld and how to avoid it.
Support: Tenants and owners alike can contact us with questions or concerns regarding deposits.
Protect Your Property or Your Deposit with WH Property Management
For tenants, understanding your responsibilities and taking proactive steps can save your security deposit. For property owners, having a professional team handle maintenance and inspections ensures your investment is well cared for.
Questions? Contact us here!
