Friday, March 18, 2011

Staying Out of Court in Security Deposits Disputes

What documentation do you need regarding property condition?

There is one very simple thing you can do to reduce the stress of arguing (or going to court) over security deposit claims – Document!

If you ever get before a judge in a security deposit claim fight, you had better be prepared. Why? Because you will feel like the one who is on trial if you don’t. Judges are going to look to you to provide the burden of proof to make their job easier. If you don’t have it, they are not going to be happy with you, and chances are they are going to award the case to the tenant.

Better yet, how great would it be to avoid this mess altogether? How much is your time worth? How about your peace of mind as a result of avoiding conflict? (I know some people just like to fight. Especially angry tenants).

It is amazing how few Landlords (even Property Managers) actually take the time to properly document the condition of a property. Many depend on their memory for remembering how the property looked prior to the tenant moving in. This is a recipe for trouble. If it comes down to your word against the tenants, you will lose.

However, if you have a detailed check list, a multitude of pictures, or one 5 minute video you can usually avoid all of these hassles. Just invite the tenant to come and review your photos and/or video. It's irrefutable and usually just mentioning that you have these will make the problem go away.

Besides, It's fun when you are holding all the Aces.

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