SECURITY DEPOSIT REFUND TO EXISTING TENANT

Sam

Hello and thank you for helping us.

We would like to return to our current tenants the amount of their security deposit made when moving in.

What is the exact path to get this done?

Appreciated. Thanks a lot. 

jthatcher

go to company tab click on print forms and labels. check customer and then click refund. then click filled form and print. check to see if it took off security deposit. you can also credit their security deposit on their account and print receipt that it was a credit for security deposit refund.

ShedStuff

Just curious as to why you are refunding the SD to existing customers?

We actually don't ask for SD unless you have rented from us before and left us in a bad situation. I know many  facilities in our area do ask for SD so this intrigued me as to others practices!?

Orkocean

They could of required SD's in the past, either a change in ownership or just business practices could have them deciding they no longer want to have SD so they would like to refund them all back perhaps?

JulieA

jthatcher said:

go to company tab click on print forms and labels. check customer and then click refund. then click filled form and print. check to see if it took off security deposit. you can also credit their security deposit on their account and print receipt that it was a credit for security deposit refund.

Print Forms & Labels?  Possibly under Setup then Unit & Tenants.  Might need to contact support for a
"hot key" on the process. 

MegumiM

We charge a non-refundable admin fee instead of a security deposit. It was just too much work to refund a deposit. We had to send a refund receipt and the ledger history to our accountant and they would cut a check and mail it to the tenant. We do still have a few tenants that paid a security deposit but now we just give them the refund receipt and ledger history to mail themselves to receive the refund. Most of them can't be bothered because it's only $15.

JulieA

MegumiM said:

We charge a non-refundable admin fee instead of a security deposit. It was just too much work to refund a deposit. We had to send a refund receipt and the ledger history to our accountant and they would cut a check and mail it to the tenant. We do still have a few tenants that paid a security deposit but now we just give them the refund receipt and ledger history to mail themselves to receive the refund. Most of them can't be bothered because it's only $15.

Watch for my upcoming post about refunding deposits and prorated rent!  I highly recommend if a facility issues refunds that they manually calculate and verify the figures calculated by SiteLink.