The most successful landlords have a closed-loop process for everything, including security deposit returns .This one is a snap:
1. After the final walkthrough have the tenant provide his new address on an envelope (of course you’ll provide one);
2. You, the landlord, includes a detailed accounting of all deductions (make sure that you itemize everything – different states have different requirements regarding security deposits and interest bearing accounts);
3. Write a check, include it in the envelope addressed by the tenant at the walkthrough and post – make sure to get a certificate of mailing (no special delivery, just something that provides legal proof that the refund was posted on a specific date within the timeline required for security deposit refunds). I usually make a photocopy of the check and keep it with the tenants’ file.
That’s it!
