August 2, 2024
Real Estate
Hello landlords! Do you know about California's Security Deposit Rules? Staying abreast is critical to effectively managing properties and creating lasting tenant relationships, so here is what you need to know:
Maximum Charges: For both furnished and unfurnished rentals, the maximum security deposit that may be assessed can not exceed one month's rent.
Exceptions: Landlords with two properties totaling four or fewer units may require two-month deposits; however, active duty service members are limited to a one-month deposit cap.
21-Day Rule: Once a tenant vacates, you have 21 days after they move out to return their security deposit or provide an itemized list of deductions. Please plan ahead as this timeline can be stringent - plan accordingly!
Clear Communication: Maintaining clear records and communicating openly with tenants will help prevent conflicts and facilitate an easy transition for everyone involved. Best Practices for
Document All Transactions and Maintain a Log: Document everything related to the security deposit by taking photos, saving receipts, and keeping an ongoing log.
Maintain Transparent Policies: Make sure that tenants understand what a security deposit covers to avoid any misunderstandings later on.
Compliance with these rules not only prevents legal issues but also builds trust and fosters transparency between you and your tenants. Need more advice about managing rental properties? Feel free to reach out for expert assistance anytime!
Diana Renee
I am so fortunate to have grown up in one of the most wonderful places in the world, California. With friendly people, incredible weather, great entertainment, beaches, mountains and the desert all within driving distance, SoCal has it all. I was born and raised in Long Beach, and have lived in Corona since 1996. I truly love this city and I'm proud to assist my clients in navigating the process of buying and selling real estate.
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