Spending MoneyIt had been a few months from the time I last saw my friend Larry the Landlord. When he walked into my office, I immediately noticed he had lost considerable weight, and he looked rather pale.

“Wow Larry”, I exclaimed, “did you go on one of those crash diets?”
“It was the food that they were feeding me”, he retorted with a look of disgust on his face.

“Who fed you what, Larry”, I inquired in surprise.
“The Sheriff at the county jail” he responded shaking his head.
Puzzled, as usual by Larry’s demeanor I asked, “Why were you being fed by the Sheriff at the county jail?”
“Because of the embezzlement charge against me for spending my tenants security deposit and not having any money left after they moved out”.

My advice to you, don’t be like Larry. Good Santa Clarita property management companies and landlord’s deposit all security deposits into a non-interest bearing, secured trust account that is professionally reconciled every month.

Security deposits are used to pay and satisfy all damages caused by tenants. A pre-printed security deposit disposition letter is sent when releasing tenant’s security deposit within the legally required 21 days after vacating the property.
Owner statements are securely posted to an online Owners Portal, saving time and paper. These simple statements provide you with a quick snapshot of your property details for the past month with continuous access to complete and accurate accounting records for each property with monthly statements and are extremely handy should any legal issues arise.

Posted by: RPM Executives on October 22, 2015
Posted in: Uncategorized