Security Deposit Management
Your tenant’s security deposit is a hedge against any breach of the lease contract or any damage to the apartment. But security deposit laws require you to take care of many details, maintain a separate landlord security deposit account and comply with various regulations to avoid unnecessary lawsuits.
At Harrisburg Property Management Group, we have the expertise to handle all security deposits as part of your full suite of property management services. We manage hundreds of new landlords' properties every year. But before you give us a call, learn more important details about our property management security deposit services below.
Efficient Collection of Security Deposits from Screened Tenants
After screening tenants and selecting the best one for your property, we ensure they pay the appropriate security deposit. With our extensive knowledge of the rental rates in each part of Harrisburg, Mechanicsburg, Carlisle, and the surrounding areas, we’ll help you determine the best amount your tenant should pay. Our service is designed to ensure that:
- Your tenant pays the security deposit before moving into the apartment.
- Your tenant agrees to comply with the terms of the lease agreement.
- The deposit is returned to the tenant in a timely manner, or an itemized list of damages being repaired using the security deposit is sent to the tenant within 30 days of move-out
Walkthrough Inspections for Security Deposit Deductions
In Pennsylvania, a walkthrough inspection is not mandated by law. But it’s one of the best ways to be sure that the tenant knows the exact condition of your home before moving in. We always schedule a pre-move walkthrough inspection with the tenant to note the present condition of the property on our Pre-Move In Inspection Report. When necessary, the inspection involves taking pictures. As a result:
- Your tenant is not likely to file a claim against you when we help you deduct money to take care of damages.
- The tenant can sign and acknowledge that all major parts of the property are in excellent, habitable condition.
- All defects will be noted in writing.
Proper Opening of Security Deposit Escrow Account
At Harrisburg Property Management Group, we manage a very large number of security deposits every year and ensure all are deposited and recorded in an appropriate escrow account. Choosing us as your property manager ensures that:
- Your tenant receives a receipt promptly in line with state laws.
- The deposit doesn’t get lumped together with any other non-escrow funds.
- Any interest required by law is reported.
A Well-Coordinated Exit Process for Each Tenant
Managing the exit process for tenants is usually a tedious task for most property owners. It involves providing the tenant with a checklist of things to do before moving out along with ensuring they clean up the property and hand over the keys to you. We’ll relieve you of the stress involved in monitoring your tenants as they move out. Here’s how we help:
- We ensure that the tenant complies with the terms of the original lease agreement.
- We take pictures of the property and note all damages and repairs required.
- We help you compare the pre-move condition report with the post move-out condition report and after their exit.
- We note all damages and prepare a comprehensive list of all damages and the repairs required to be presented to the tenant according to all applicable state law.
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Effective Communication with a Tenant After Their Exit
We help you take care of one of the most vital aspects of security deposit management — communicating with tenants immediately after they move out of your property. After receiving the tenant's new address, we’ll send a letter to them with details about any repairs required and any deductions from the original deposit. Our service has helped many landlords in Mechanicsburg, Harrisburg, Carlisle, and the surrounding communities to enjoy:
- Prompt return of security deposits to avoid litigation
- Quicker repairs of the property to prepare for new tenants
- Shorter vacancy cycles
- Retention of the deposit when the tenant breaches the lease contract
At the Harrisburg Property Management Group, we provide security deposit collection and management as an integral part of our suite of property management services. We help make the process easier, faster and stress-free, ensuring that all accounting, interest payments, and refunds are handled promptly and in line with state property laws.
Get More Information About Our Services
To start enjoying stress-free property management, give us a call now or use the property management form to provide details about your property. Join hundreds of landlords in Harrisburg who trust us for property management and enjoy better tenant retention, lower maintenance costs and increased value from properties.
Areas We Serve
- New Cumberland
- Camp Hill