Lesson 5 of 5 · 4 min

Deposit settlements

Return or apply deposits after move-out, before the statutory deadline.

Financial › Deposit settlements lists former residents whose deposit has not been disposed. Most states put deposit return on a statutory clock, so work this list weekly.

  1. Find the former resident on the list. If the move-out is not recorded yet, record it with the move-out date and reason.
  2. Post any move-out charges, such as damage found at the move-out inspection, to the lease before you settle.
  3. Open the settlement and review the deposit held against what is still owed.
  4. Post the settlement. The outcome is either a refund due to the resident or a balance due from the resident.

Keep the move-out inspection photos with the settlement. They are your evidence if a deduction is disputed.

The Collections list: leases owing, status and amount outstanding.
The screen this lesson works in, from the StrivBridge sample company.
Loading the rest of this lesson…