Renters Security Deposit Questions?

Question

I'm helping out a friend and re-asking his question to get some people to respond.

Rental Security Deposit questions?

Questions about the renters deposit in CA.....?

I'll be giving my roommate my half of the deposit ($500) on the house we rent real soon.

I don't plan on being her roommate for much longer (I'm hoping to move out in about two months) but I still owe my half of the deposit.

QUESTIONS:

What precautions should I take before I give it to her?

I kinda, sorta trust her, but I'd rather be safe than sorry.

Should I get a receipt?

Also, what should I do when I give her the deposit and then move out?

Does she have a certain amout of time to return my half of the deposit, or must I wait until she moves out of the home as well?

And finally, in California, isn't it true that the deposit does not include normal wear-and-tear?

As long as the house looks exactly the same (or cleaner) than when you first moved in, you should get back all/most of the deposit, right?

I really appreciate any input you may have. THANK YOU! :D

Answer 1

You should DEFINITELY get a receipt from her stating that the money will be returned to you WHEN YOU MOVE OUT!  If the next roommate were to cause any damage that was not your fault, you would be completely screwed if you did not get your deposit back upon moving out of the unit.

That being said, your "receipt"  is basically worthless to you when it comes to getting the $500 back if your roommate does not wish to give it back to you.  I would, therefore, give her your final rent check on the first day of the last month you will be living there, MINUS the $500 for the security deposit.  This insures that she will not be able to withhold the $500 from you when you move out, because you have, in effect, already taken it from her.  If she complains, you can just say "you owe me this money anyway, and it makes no sense for me to give it to you and then just have to ask for a check back."  If she tries to sue you, you have the reciept showing that she owed you the $500 anyway, and she does not have a leg to stand on.

Good luck!

Answer 2

Just get a receipt for all money given.

Keep the place clean and don't do damage.

They have 14 days to account for it. Leave a forwarding address.

For the protection of both parties there should ALWAYS be a Move-In/Move-Out Inspection Report done at both ends of the rental period. Here is one to use as a guide: http://www.ilrg.com/forms/rental-checkli... Both sign it and keep copies. If nothing is noted the condition is assumed to be perfect.  

Answer 3

Check out this book from Nolo Press.  It would answer all of your questions.

http://www.nolo.com/product.cfm/ObjectID...

Answer 4

Hello,

Always, always get everything in writing for evidence or proof...and yes you will receive your deposit back as long as you didn't punch any walls in..lol..and you can get your half back without her moving out, I am sure of it.  It's your money, as long as you have it in writing.

Just clean it the best you can, you will receive most of your deposit back.  I didn't clean the stove that good one time when I moved out, so the landlord deducted $35.00 from me..ha..so, just be clean hon.

Good luck,

Peace out,

FreeSpiritRunning...

Answer 5

Yes always get a receipt no matter what,  now if u are moving out you will have to wait  to get your part back after she vacates the house that's the only time u get a deposit back cause the landlord checks to make sure there is no damage to his property  and if there is damage the money for repairs will come out of the deposit.And yes you should get all the deposit back if there r no damages. hope this helped and gl with ur move.

Answer 6

yes deposits are used for things you break or mess up. it's easier to give the friend the money, get a receipt, let them put up the deposit in their name.

as long as they continue to work, they should be able to pay you back.

Answer 7

Definitely get a reciept that specifies that your security deposit is to be returned in full by her within 30 days of the date you move out.  Also spell out you anticipated move-out date.  This way she can never claim you did not tell her.

Friends become enemies real fast when it comes to disputes over money.  You do NOT want to let her keep the money until she moves out because (1) it makes no sense, and (2) if she trashes the place after you move out you can kiss it goodbye.

But if you are going to be there only a couple of months it almost makes no sense for you to put up a security deposit at all. You are, in effect, a temporary guest.  However, there is a MAJOR problem with this.  If you give her the money for one-half of the security, then she gives it to the landlord, she will not have the money to give back to you.  So you must make it clear that since you are only staying there temporarily, YOUR $500 can not be given to the landlord and must be held in trust by her for you so she can refund it when you move out.  She will NOT like this at all because that means she will have to come up with the full $1000 to give to the landlord herself, which she will not want to do.  But unless your security deposit agreement is with the landlord you do not you do not want the money going to the landlord.  Your security deposit agreement is with her, not the landlord, so she must hold the money for you and not give it to the landlord.

Also, most states require that s security deposit cannot be co-mingled with the landlord's own money.  In this case she is acting like a landlord.  Specify in writing that the money MUST be deposited in a separate interest-bearing account and that she cannot touch it for her own personal use.  If she does not agree to this, be wary because that would mean she intends to spend the money and would have nothing left with which to refund you when you move out.  You need to have a clear understanding in writing that the money you give her for security is NOT money that belongs to her or that she can use for her own personal benefit, which is probably exactly what she is counting on.

Do not leave ANYTHING to blind trust in this.  Write it all down and keep a signed copy.  If you don't, she will deny everything and refuse to pay you back once you have moved out.

Answer 8

normal wear and tear you don't have to pay for. As for  your half of the deposit... IMO i would   pro rate it. if its a 12 month lease and your only going to be there for 2 months...   figure out how much  2 months worth  of  deposit  would be . YES  get a receipt  and pay with a money order  NEVER use cash! keep your money order receipt as well.

I can't believe you are being asked to  even pay a  security  deposit  that high  if your only going to be there two months. Also... make sure you get it in writing that sue  understands that you are only going to be there for two months. B/c if you break your lease  early, and don't give her proper notice you will  STILL be responsible for the rent .