Tenant using security deposit for rent!..need advise!
Have a tenant moving to new home has given notice and her last months rent is paid in advance Problem is that she has arbitrarily calculated her deposit to be an additional months rent and sent me a check for the balance
I plan to call her tomorrow and discuss that the sec is not used for rent but I have a feeling that they will do what they want since they have just built a new home and could care less what I say
What is my recourse? If they stay on and use up the security deposit I will be losing a months rent from someone else plus I need that time to do new carpet and paint etc. I can't evict because they are in their last paid month now
Since you know they are building a new house, have a lien put on the new house through the courts. Dont forget that you are allowed a good interest rate on the amount owed until it is paid off. Essentially by them being underhanded you now have a great long term investment. I would file with the court system now since they have made there intent clear. Also you can file against there credit and they wil pay you off the next time they need a credit card or a car loan. You are also positioning yourself for first in line to acquire a foreclosure on a brand new house heheheh
Good Luck,
Kyle