Imagine you're a landlord in sunny Irvine, CA, where your rental property is a prized investment. But what happens when a tenant moves out and there's damage, unpaid rent, or excessive cleaning costs?
Understanding security deposits is crucial if you're a landlord in Irvine, CA. This guide will help you know what to do with these deposits according to rental laws in Irvine. We'll cover how much you can charge, when to return the deposit, and the reasons for keeping some or all of it.
These rental property tips in Irvine will protect your investment and keep your tenants happy. Keep reading to learn more landlord advice in California.
How Much Can You Charge?
In Irvine, as in all of California, the amount you can charge for security deposits depends on whether the rental is furnished or unfurnished. You can ask for up to one month's rent for an unfurnished rental and up to two months' rent for a furnished rental. This includes pet deposits.
For instance, if your unfurnished apartment rents for $2,000 a month, the most you can charge for a tenant security deposit is $2,000. If it's furnished, you can charge up to $4,000.
Returning Security Deposits
Tenant security deposits must be returned within 21 days after the tenant moves out and inspections are done. If you deduct money for repairs or cleaning, you must provide an itemized list of those charges. Send this along with the remaining deposit to your tenant.
For instance, if you withhold $200 for carpet cleaning, explain why and include the receipt. Then, return the rest of the deposit within 21 days.
Reasons to Keep a Security Deposit
You may keep some or all of a tenant's security deposit for a few reasons. Here are some common ones:
- Unpaid rent: If the tenant didn't pay all their rent, you can use the deposit to cover it
- Damage: If the tenant caused damage beyond normal wear and tear, you can use the deposit to make repairs
- Cleaning: If the tenant left the rental dirty, you can use the deposit to clean it to its prior condition
- Broken lease: If the tenant breaks the lease early, you may be able to keep the deposit to cover costs
For instance, if your tenant leaves a big hole in the wall, use the tenant security deposit to fix it. If they leave a small scuff mark, that's everyday wear and tear; you shouldn't charge for it.
Locking Down Your Security Deposit Knowledge
Understanding security deposit rules is vital to being a successful landlord in Irvine, CA. These rental property tips in Irvine will help you manage deposits fairly and legally. Follow the rental laws in Irvine and document everything.
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Enjoy peace of mind with responsive 24/7 support and transparent communication via our online portals. With PMI Orange County, you can effortlessly protect and maintain your valuable investment. Call us now to get started!
