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Georgia Landlord Tenant Closing Statement to Reconcile Security Deposit

Category:
Landlord Tenant - Residential Leases - Closing Statements
State:
Georgia
Control #:
GA-9000LT
Format:
Word; 
Rich Text
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Description

This is a Landlord Tenant Closing Statement - Reconcile Security Deposit, where the landlord records the deposits and credits, less deductions from the credits or security deposit for delivery to the tenant. It is used to document for the benefit of both parties the monies held by the landlord and due to the landlord.


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.

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FAQ

Under Georgia law, a landlord must return the tenant's security deposit within one month after the tenant has surrendered the rental property to the landlord (that is, returned the keys and vacated the property).

A deposit forms part of any commercial tenancy agreement and when you leave a property at the end of your tenancy, you are entitled to receive it back. You should usually receive your deposit back within 10 days of the end of your tenancy agreement, providing there is no damage to the property or its contents.

The date of the letter and the landlord's full name and address. The address of the residence you rented and the date you moved in. A statement that you've been paying your rent timely and that you are current with your payments.

Normal wear and tear includes minor damage; small scuffs, tiny nail holes, and scratches. Worn and slightly stained carpet, broken hinges, and other insignificant damage can also be considered wear and tear. As the owner, you may not appreciate having to paint your property in between every tenant.

You should usually get your deposit back within 10 days of agreeing on the amount with your landlord. It can take a lot longer if you and your landlord disagree on the amount that's being taken off.

If a landlord does not return the entire amount of the tenant's security deposit within the 21 days required by law, and the tenant disputes the deductions from the deposit: The tenant can write a letter to the landlord explaining why he or she believes he or she is entitled to a larger refund.

5 Times a Landlord Does Not Have to Return a Tenant's Security Deposit. Breaking or Terminating a Lease Early. Nonpayment of Rent. Damage to the Property. Cleaning Costs. Unpaid Utilities.

Concisely review the main facts and lay out the reasons your landlord owes you money. Include copies of relevant letters and agreements, such as your notice to move out. Ask for exactly what you want, such as the full amount of your deposit within ten days. Cite state security deposit law.

Mail your landlord a letter requesting that she return your deposit. Be polite and simply inform the landlord that you have vacated the property and would appreciate the return of your deposit once she has had a chance to complete any checks and paperwork.

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