Getting back that Deposit!

When you move in to most any rental, putting down a damage / security deposit is standard procedure. But what exactly is it and what is it for?  Is it fully refundable, non refundable or have a non refundable portion?  These are questions you will want answered up front in writing and in the contract it’s self.  Don’t expect each Landlord to have the same ideas in their mind about how to treat deposits and refunds.  Make sure you fill out a written condition report with your Landlord or property manager. This is for your protection and required in Washington State if a deposit is required.

On our rental / lease agreements the deposit is your money. We keep it in a trust account at the bank listed on the agreement.  In short, how you leave the unit will directly effect how much deposit you get back.   Have you been in the unit for the minimum term?  Did you give proper notice? Did you clean the unit?  Did you return keys promptly ?  Did you repair any damage to the unit caused by you or your guests?  These are all requirements under our contract that we follow at move out.

Remember that a rental / lease agreement is a contract. In that contract the both parties have responsibilities.  Even though you pay rent, the landlord has the biggest financial responsibility.  Your help in keeping problems away, keeping the place in good shape and leaving it rent ready when you leave have great value to the Landlord. Report leaks immediately to avoid higher water bills and bigger long term damage etc.  Communication and cooperation all the way through the lease term makes for the happiest business relationships.  There is nothing better for us than writing a complete deposit refund check for several reasons. 1. You leave happy with us and recommend us to your friends.             2. When another landlord calls us for a rental reference it is more pleasant to give. 3. It means you left the unit as you found it saving us time, money and extra work.

Our units vary in age and overall condition so it would be rare for you to move into a “perfect” unit. “Normal” wear and tear is expected and always taken into consideration when we do our deposit dispositions. If your unit is clean and ready when you move out we get the deposit back out just as quick as we can. If there is cleaning, carpet cleaning and damage it will take up to the 14 day limit for us to get it out to you.

Our duty and promise to our rental customers is to treat you equally, honestly and fairly. We want happy customers that refer their friends to us. 

Rick Phillips

Property Manager

CBFR