Fillable Form Security Deposit Return Letter

What is a Security Deposit Return Letter?

A Security Deposit Return Letter is a document used by landlords or property owners to return the security deposit paid by a former tenant after the expiration of their lease (assuming that the terms of the lease agreement marked the security deposit as refundable).

A security deposit is an amount of money given by a tenant to their landlord upon moving into the property as proof of their intent to move in and care for the premises for the duration of the lease agreement. This amount serves as security for the landlord and is often used to pay for any damages or lost property that may occur during the duration of the tenant’s lease. For example, if for any reason a piece of furniture is lost or damaged, or if one of the appliances in the property breaks due to the actions of the tenant, the security deposit is used to pay for the replacement or repairs of the concerned property.

The exact amount that must be given as a security deposit is generally agreed upon as part of the lease agreement but is usually about the same amount as the amount that must be paid for rent on a monthly basis. If the property is in good condition with minimal to no need for repair once the lease agreement expires or is otherwise terminated, the security deposit is stated to be refundable in the lease agreement signed by both the landlord and the tenant.

A Security Deposit Return Letter form specifically covers such a return of a security deposit. The form itself contains just enough information to clearly identify the concerned (former) tenant and the property that they leased but mostly focuses on the amount that was paid as a security deposit and how much has been deducted from it over the duration of the tenant’s lease in order to pay for repairs and cleaning. The form itself may have other supporting documents attached that verify the reasons for deductions to the security deposit returned.

Different states may have different rules and procedures surrounding where a security deposit must be held, whether or not it must be returned once the lease agreement expires, and whether or not it may earn interest.

Who needs to use a Security Deposit Return Letter?

A landlord or property owner will generally need to fill out a Security Deposit Return Letter Template to give to a former tenant alongside their returned security deposit. The document is important to not only verify the original amount that was paid as a security deposit but also to declare the amount that is being returned, as well as a simple outline of what deductions (or additions, in the event that the deposit accumulated interest) have been made to the amount returned.

How to fill out a Security Deposit Return Letter?

The Security Deposit Return Letter PDF is a very short and simple form to fill out. Make sure to download the form in PDF before printing it to ensure that all information entered and the format of the form will remain intact even after being printed or otherwise submitted to the relevant person or entity.

It would be beneficial to have any relevant documents outlining the deductions made to the initial security deposit to ensure that any and all such information you enter in the form is correct and updated. The documents themselves may also be attached to this form in order to verify each of the declared deductions.

Tenant Name

Enter the full legal name of the former tenant.

Landlord

Enter the full legal name of the landlord or property owner.

Rental Address

Enter the address information of the leased property. Address information generally consists of the following:

• Number
• Street
• Town or City
• County
• State
• ZIP Code

Note the state that the leased property is in, and make sure to consult any existing laws in that state regarding the handling of security deposits to avoid any issues with the return or refund of the deposit or even with its management.

Salutations

Enter the name of the former tenant. It will generally be appropriate to refer to them using the title Mr. or Ms. Do not abbreviate their name.

Initial Deposit

Enter the amount of money initially given as the security deposit.

Lease Agreement Starting Date

Enter the date when the tenant and the landlord began their lease agreement.

Lease Agreement Termination Date

Enter the date when the lease agreement was terminated.

Unit Deductions

In this table, information on the deductions made to the initial security deposit will be outlined for the tenant. Enter the following information in the spaces provided.

Initial Deposit

Enter the amount of money initially given as the security deposit.

Deduction

Enter a short name or description of what the deduction was for.

Amount Deducted

Enter the amount deducted from the initial deposit.

You may use an extra sheet of paper to declare more deductions as necessary.

Total

Subtract each of the amounts deducted from the amount indicated as the initial deposit, and enter the difference.

Contact Information

Enter the landlord or their contact person’s primary landline or mobile number and email address.

Closing

Enter the name of the landlord or property owner.

Tips when filling out a Security Deposit Return Letter

While the Security Deposit Return Letter Template is a very simple form to fill out, it is important to double-check all of the information entered in the form in order to ensure that it is all correct and updated. This will help to avoid any issues with potentially misleading information being distributed alongside this form.

Keep the form in a safe and secure area. Make sure to keep the form in a safe and organized space. This is important not only to prevent it from getting lost, but also to avoid any issues that may arise as a result of losing the form, such as identity theft, fraud, or even legal action.

Practice good contract management. Create a copy of the fulfilled form and keep it in an organized area. This will be useful for future legal purposes or as a backup should anything happen to the original copy.