Phoenix Arizona Landlord Tenant Closing Statement to Reconcile Security Deposit

State:
Arizona
City:
Phoenix
Control #:
AZ-9000LT
Format:
Word; 
Rich Text
Instant download

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.

How to fill out Arizona Landlord Tenant Closing Statement To Reconcile Security Deposit?

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FAQ

Under Arizona law, a landlord must return the tenant's security deposit, with an itemized statement of deductions, within 14 days after the tenant has moved out.

Landlords in Pennsylvania can only deduct money from your security deposit for damages to the property, unpaid rent, or the breach of a lease. If they do keep any of your security deposit, they have to give you a list of the deductions, as well as the cost of the repairs.

A landlord can only deduct from the deposit for damages. If you move out of a rental property after 10 years, don't allow the landlord to deduct the cost of paint and carpet from your deposit ? it's against California law.

Arizona has no legal regulation about the storage of security deposits. A tenant's security deposit, partial or full, has to be returned to them within 14 days of their move-out. The dispute period for security deposit deductions lasts 60 days.

In California, a landlord is allowed to charge a cleaning fee. This should cover the costs of cleaning services to bring the unit back to the same level of cleanliness it was in when the tenancy started.

Regular wear-and-tear includes scuff marks on walls and normal wear on floors. While most landlords expect to clean between tenants, there are times when cleaning fees may be taken from your security deposit.

A landlord cannot keep the security deposit to cover normal wear and tear. Thus, a landlord cannot charge you for normal cleaning if the apartment or house is left in as good or better condition than first occupied.

A landlord can deduct from the tenant's security deposit: The cost of fixing any damages to the property caused by the tenant or the tenant's guests.The cost of cleaning the unit when the tenant moves out, but only to make the unit as clean as it was when the tenant first moved in (less reasonable wear and tear).

A landlord can typically charge a tenant for cleaning needed to return the property to the condition at the time the tenant moved in. But, a landlord can not charge the tenant extra ? or use the security deposit ? to pay for normal wear and tear.

Within fourteen days, excluding Saturdays, Sundays or other legal holidays, after termination of the tenancy and delivery of possession and demand by the tenant the landlord shall provide the tenant an itemized list of all deductions together with the amount due and payable to the tenant, if any.

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Phoenix Arizona Landlord Tenant Closing Statement to Reconcile Security Deposit