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Sample Deposit Accounting Letter

This letter template will give you an idea of what information you need to provide in an accounting. It is always a good policy to mail this letter Priority Mail or Certified Mail so that you can track it and you can prove when you sent the accounting. In the deduction section, it doesnt hurt to provide as much detail, regarding the line item, as you can. Make sure you also keep track of all your reciepts and any quotes you recieve for the work you intend to deduct from the deposit. The more documentation the better. This will help you defend against any claims that the deductions were unreasonable or unnecessary

[BEGINNING OF LETTER]

Today’s Date: [MM/DD/YYYY]

Tenant’s Name: [Name]
Rental Property Address: [Address]
Lease expiration date: [MM/DD/YYYY]
Move-out Date: [MM/DD/YYYY]

Dear [Name],

The purpose of this letter is to account for your security deposit as detailed below.

Credits Received
• Beginning Security Deposit – $XXX.XX
• Additional Deposit/Excess Rent Amounts – $XXX.XX

Total Deposit Recieved – $XXX.XX

Deductions
This is notice that the owner of the leased premises is deducting the following charges and expenses from your security deposit:

Damage Repair Expenses

_____________________________                              $ __________

_____________________________                              $ __________

_____________________________                              $ __________

_____________________________                              $ __________

_____________________________                              $ __________

_____________________________                              $ __________

Cleaning Expenses

_____________________________                              $ __________

_____________________________                              $ __________

_____________________________                              $ __________

Total Security Deposit Deduction                                      $ __________

Amount to be Returned to Tenant                                     $ __________

Remaining Balance
The balance due to resident of $XXX.XX will be returned via [enter payment method].


If deductions exceed the deposit, use this text instead for “Remaining Balance” section instead:

Owing Balance
The balance due to the landlord of $XXX.XX must be paid within 30 days of receipt of this statement. Unless you, the tenant, within thirty days after receipt of this notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the landlord. If the tenant notifies the landlord in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the landlord will verify the amount and a copy of such verification will be mailed to the tenant by the landlord. Upon the tenant's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.

Please make checks payable to [Name].


Sincerely,
[Name]
[Address]
[City], [ST] [Zip Code]

[END OF LETTER]

NOTE: If you receive a notice within 30 days of sending the owing balance letter please refer to the federal fair debt collection statute below as it may apply to your situation in the case of a savvy tenant: 

"If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) of this section that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or a copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector. Collection activities and communications that do not otherwise violate this subchapter may continue during the 30-day period referred to in subsection (a) of this section unless the consumer has notified the debt collector in writing that the debt, or any portion of the debt, is disputed or that the consumer requests the name and address of the original creditor. Any collection activities and communication during the 30-day period may not overshadow or be inconsistent with the disclosure of the consumer's right to dispute the debt or request the name and address of the original creditor." 15 U.S.C.A. § 1692g(b)

 

Nathaniel Brown