How do you manage security deposits?
Great question. Most of the homeowners who transferred their estate to us from another management were dissatisfied the high cost of repairs, poor communication, and low efficacy per se. We do conduct a detailed move-out inspection, and resident will sign it. Then manager will compare and analyze both move-in and move-out reports. The office will issue a Security deposit claim when applicable. Resident will have 15 days to dispute it. If not disputed, security deposit will be withheld in amount to cover the damages caused during the tenancy.
Also, few words about the transition itself. Once we complete On-Boarding paperwork, we will contact your property manager and request a transition. We will ask for copy of the Ledgers, Rental Rolls, Security deposit, keys, and any pending notices. We will provide a power of attorney for representation, so the homeowners can rest while the property is transiting.