Virginia has some specific laws when it comes to security deposits. For example, you cannot collect more than the equivalent of two months’ rent when a tenant is moving in. That’s the limit to what you can collect.
It’s usually more than enough, and the standard is a security deposit that’s equal to one month of rent.
The collection of a security deposit is rarely as challenging as its return. You need to understand the timeline for security deposit returns and, even more importantly, you need to understand what you can and cannot deduct for.
After your tenants have turned in the keys and left a forwarding address, you’ll need to go through your vacant
Arlington rental property and document its condition. The tenant has the right to be present at the final inspection, and you must give the tenant written notice of this right.
This is where you’ll decide whether you’ll be making any deductions to the tenant’s security deposit. So, bring your move-in inspection report with you so you can compare the condition of the home at this point to the condition it was in when the tenants took possession.
Here’s what you need to know as you’re inspecting: you cannot deduct anything from the security deposit for
regular wear and tear. Those small nail holes in the walls and scuff marks from where the sofa rested cannot be charged to the tenant.
Take pictures to document the property’s condition. If you notice damages that are beyond normal wear and tear, you can charge for that. Make sure you can demonstrate that those things were not broken or damaged at the beginning of the lease.
Virginia law requires you to return the security deposit to the tenants within 45 days of the tenant moving out. You are not required to provide any advance notice of deductions you might be making.
You are permitted to charge the security deposit for:
If the tenant isn’t receiving a full deposit refund, you should send the amount that they are getting back with an itemized list of what you’ve deducted and why. Be specific and include receipts, invoices, and other documentation to support what you’ve charged.
If your tenant disputes what you’ve withheld or you don’t return the deposit in time, you could face expensive penalties. This is why we always encourage owners to be detailed in their move-in and move-out inspections. Document everything carefully, and if a tenant pushes back against a deduction you’re making, decide how well you think your case will stand up in court.
If you’d like some help avoiding security deposit troubles with your Arlington
rental property, please contact us at Arlington Realty Property Management. We deal with tenant move-outs all the time, and we have systems in place to ensure the security deposit is lawfully returned.
