Security Deposit Accounting Statement

4 Stars

Use this Security Deposit Accounting Statement to issue an accounting of all monies deducted from the security deposit refund, after tenants have vacated.

Document Last Modified: 1/16/2020

Document Features

Editable

Auto-Fill Document

State Specific Clauses

VA State Assist

The security deposit and any deductions, shall be itemized by the landlord in a written notice given to the tenant, together with the balance and delivered within 45 days of lease termination.

It is not required to specify in the lease the maximum number of days to return the security deposit, this is optional.


If neither the landlord nor tenants agree in writing on how the disposition of a security deposit will be made, then it shall be paid with one check payable to ALL tenants, joint and several and sent to the forwarding address that was provided by the tenants. If the tenants do not provide a forwarding address within one year after vacating the rental premises and after a 45 day statutory period ends, the remaining amount of that security deposit shall be turned over to the Commonwealth and will be paid into the Commonwealth of Virginia’s state treasury and credited to the Virginia Housing Partnership Revolving Fund. http://vacode.org/36/9/ Once this occurs, the landlord is absolved of all responsibility to the tenant regarding the security deposit.

Many states require landlords to issue an accounting statement of all monies deducted from tenants' security deposit refunds, after the tenants have vacated. This ezLandlordForms’s Security Deposit Accounting Statement will provide the landlord the organization he/she needs when configuring the amount due of the security deposit. It is extremely important to know the amount received as security, how much was applied to repairs, and what is still due. This form will keep the landlord on the ball when he/she must refund the full security deposit or any portion.

This worksheet helps the landlord break down all expenses deducted from the security deposit. The Security Deposit Accounting Statement includes the necessary information to properly understand the form like the start and end dates, date notice was given, and date of the move out inspection. The form is split into three columns: Deposits Received, Deductions, and Resulting Balance. This will really help the landlord break down all expenses deducted from the security deposit.

The landlord should give this form to the tenant at the end of the tenancy, when he/she must return the security deposit, or any portion of it to the tenant. The landlord will use this form if there is still money owed after repairs, court costs, fees, or other charges. The form demands the tenant for the balance and directs them when and where to pay it.

In addition to the lease, this is one of the most important tools for landlords and property managers to become accustomed to utilizing on a routine basis. Never risk foregoing the use of this form when a tenant moves out. Whether the tenant is entitled to a full refund, partial refund, or no refund at all, accounting for a tenant’s Security Deposit is vital. Also, not only are you responsible as a landlord and property manager to account for expenses taken out of a Security Deposit, it is also the landlord/property manager’s responsibility to get this accounting statement to tenants in a timely manner. Each jurisdiction has it’s own timeline for getting this information to a tenant. You must ensure you are familiar with that timeline and make every effort to meet it.

Other Documents

Why ezLandlordForms?

#1 Rated Lease Agreement

9.3 TrustPilot Rating, with 3,384 Reviews

No Recurring Billing

No automatic charges or monthly billing

State Assist

So you know you're complying with state laws

Full Support

Phone, live chat, or email... try us now!

Unlimited Access

Edit & print any of our forms with pro access

Satisfaction Guarantee

Trusted by over 2.3 million landlords & property managers

FEATURED ON

Call us: 1-877-367-6771
We are available 7 days a week to answer your
questions and to receive your feedback

ezLandlordForms products and services are reviewed and approved by attorneys, accountants, fellow landlords, or industry experts.

ezLandlordForms is not a law firm and our products and services are not a substitute for the advice of an attorney.

Copyright © 2006-2018, ezLandlordForms LLC. All Rights Reserved. | Privacy Policy | Terms & Conditions | ezLandlordForms Affiliate Program

Version: 1.667.0