A security deposit is a payment required by a landlord from a tenant to cover the expenses of any repairs of damages to the premises greater than normal "wear and tear." Everyday usage is normal wear and tear, but excess damage is a debated definition. A security deposit is not the same as rent. It is money that actually belongs to the tenant but is held by the landlord for tenant-caused damages and sometimes past-due rent. Without the agreement of the landlord, a security deposit may not legally be used as the last month's rent.
Laws vary by state, but some states place a limit on the amount of a security deposit that a landlord may charge. Some states also regulate where residential security deposits must be kept and when interest payments on the security deposits must be made to the tenant. State laws also define the time period after the tenant vacates within which the deposit must be returned to the tenant. Subject: Minneapolis, Minnesota — Letter from Landlord to Tenant: Return of Security Deposit minus Deductions Dear [Tenant's Name], We hope this letter finds you in good health and high spirits. As per our agreement and as outlined in your lease agreement, we are writing to inform you of the final disposition of your security deposit for the rental property located at [property address]. First and foremost, we would like to express our gratitude for your tenancy and cooperation during your stay at our property. It was a pleasure having you as our tenant. After conducting a thorough inspection of the premises following your move-out, we are pleased to inform you that your security deposit will be returned to you with deductions, if applicable. Please find the breakdown of these deductions below: 1. Cleaning Charges: [Specify any cleaning charges incurred due to excessive dirt, stains, or any damages, if applicable.] 2. Repairs and Maintenance: [Specify any repairs or maintenance required to restore the property to its original condition, for any damages beyond normal wear and tear, if applicable.] 3. Unpaid Rent or Utilities: [Specify any outstanding rent or utility charges, if applicable.] 4. Other Charges: [Specify any other applicable charges such as unpaid balances or fees as per the lease agreement, if applicable.] The total deductions amount to $_____. However, we have carefully calculated these deductions and have deducted only what is reasonable and necessary to cover the expenses incurred in restoring the property to its pre-tenancy condition. After deducting the aforementioned expenses, the remaining amount of your security deposit is $_____, which will be refunded to you. We will process the refund within [insert number of days as per local laws] from the date of this letter. Please note that, as a responsible landlord, we maintain all records and receipts for the deductions made from your deposit and are prepared to provide them upon request. If you have any questions or concerns regarding the deductions, we encourage you to contact us promptly. We value your satisfaction and are committed to addressing any issues you may have. Once again, we appreciate your tenancy, and we hope that you enjoyed your stay at our property. We wish you all the best and success in your future endeavors. Sincerely, [Landlord's Name] [Landlord's Contact Information] Alternate Types of Minneapolis, Minnesota Letters from Landlord to Tenant Returning Security Deposit Less Deductions: 1. Minneapolis, Minnesota Pet Deposit Deduction Letter: This letter is sent to inform the tenant of deductions made from their pet deposit concerning damages caused by their pet(s) during the tenancy. 2. Minneapolis, Minnesota Partial Security Deposit Deduction Letter: This letter outlines deductions made from the security deposit for specific damages or unpaid rent, leaving a partial refund amount to be returned to the tenant. 3. Minneapolis, Minnesota Security Deposit Deduction Refund Letter: This type of letter acknowledges the deductions made from the security deposit, provides a detailed breakdown of charges, and notifies the tenant about the funds being refunded. Note: It is important to consult local laws and regulations concerning security deposits and deduction policies while drafting such letters. The provided content only serves as a general template.
Subject: Minneapolis, Minnesota — Letter from Landlord to Tenant: Return of Security Deposit minus Deductions Dear [Tenant's Name], We hope this letter finds you in good health and high spirits. As per our agreement and as outlined in your lease agreement, we are writing to inform you of the final disposition of your security deposit for the rental property located at [property address]. First and foremost, we would like to express our gratitude for your tenancy and cooperation during your stay at our property. It was a pleasure having you as our tenant. After conducting a thorough inspection of the premises following your move-out, we are pleased to inform you that your security deposit will be returned to you with deductions, if applicable. Please find the breakdown of these deductions below: 1. Cleaning Charges: [Specify any cleaning charges incurred due to excessive dirt, stains, or any damages, if applicable.] 2. Repairs and Maintenance: [Specify any repairs or maintenance required to restore the property to its original condition, for any damages beyond normal wear and tear, if applicable.] 3. Unpaid Rent or Utilities: [Specify any outstanding rent or utility charges, if applicable.] 4. Other Charges: [Specify any other applicable charges such as unpaid balances or fees as per the lease agreement, if applicable.] The total deductions amount to $_____. However, we have carefully calculated these deductions and have deducted only what is reasonable and necessary to cover the expenses incurred in restoring the property to its pre-tenancy condition. After deducting the aforementioned expenses, the remaining amount of your security deposit is $_____, which will be refunded to you. We will process the refund within [insert number of days as per local laws] from the date of this letter. Please note that, as a responsible landlord, we maintain all records and receipts for the deductions made from your deposit and are prepared to provide them upon request. If you have any questions or concerns regarding the deductions, we encourage you to contact us promptly. We value your satisfaction and are committed to addressing any issues you may have. Once again, we appreciate your tenancy, and we hope that you enjoyed your stay at our property. We wish you all the best and success in your future endeavors. Sincerely, [Landlord's Name] [Landlord's Contact Information] Alternate Types of Minneapolis, Minnesota Letters from Landlord to Tenant Returning Security Deposit Less Deductions: 1. Minneapolis, Minnesota Pet Deposit Deduction Letter: This letter is sent to inform the tenant of deductions made from their pet deposit concerning damages caused by their pet(s) during the tenancy. 2. Minneapolis, Minnesota Partial Security Deposit Deduction Letter: This letter outlines deductions made from the security deposit for specific damages or unpaid rent, leaving a partial refund amount to be returned to the tenant. 3. Minneapolis, Minnesota Security Deposit Deduction Refund Letter: This type of letter acknowledges the deductions made from the security deposit, provides a detailed breakdown of charges, and notifies the tenant about the funds being refunded. Note: It is important to consult local laws and regulations concerning security deposits and deduction policies while drafting such letters. The provided content only serves as a general template.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
