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10 Security Deposit Tips and Hacks for Landlords


A recent article at www.biggerpockets.com provides a lot of good info for landlords regarding security deposits.

For one thing, security deposits don’t protect the average landlord as well as they think they do. In fact, for the typical landlord, the security deposit protects against only one thing: minor tenant-caused damage to the property.

Landlords today have to be savvier.

One good idea is to “tenant-proof” your rental unit. That means replacing old carpeting with bamboo or faux-wood flooring, repainting with glossy paint (easier to clean) and installing doorstoppers behind every door.

Another thing landlords should do is spell out in the lease what constitutes “normal wear and tear.” For example, drywall holes from hanging pictures and paintings are often overlooked; but the smart landlord can deem that “damage,” and the repair of that damage can be deducted from the security deposit.

Read on HERE

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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