Q&A with Michelle Dickens from the Tenant Profile Network.
Transcript:
So the tenants deposit is held on behalf of the tenant, We must remember that it is his deposit that is held in trust and it is there to be used in certain circumstances.
It is there to be used in the case of damage to the property and actual damage to the property; in the case of non-payment of rent; non-payment of utilities; lost keys; lost remotes...those instances.
An incoming inspection must be performed to ensure that the property is in a certain condition. And when the tenant vacates, an outgoing inspection is done. Only at that point can it be determined what damage claim there is and to what the deposit can be allocated.
