Add Security Deposit Tracking
planned
M
Mike and Amber Alesso
Even if returning the security deposit through the platform is too complicated of a feature to add right now, it would be extremely helpful if there was just a field to notate the lease that the security deposit was returned.
I'd suggest adding the option where the "create charge" and "record payment" options are. Adding a "record refund" button, where you select the tenant that received the refund, add the refund amount and reason, select the payment method, select the date paid, and then have the Refund Note text field for optional notes on what, if any, expenses were deducted from that refund. Then the option to send a tenant receipt, and the refund summary, just like the "record payment" screen is set up currently. No payment needs to be processed through the platform but it would still allow landlords to keep accurate accounting records attached with each lease.
K
Keenan Suacillo
Thank you everyone for the feature request and input! You can now return security deposits directly in TurboTenant.
The full return process is supported: add deductions, attach receipts or notes, send funds electronically, and get a confirmation once the payment is sent.
This means you no longer need to handle deposit returns offline or track them separately. Everything is recorded in one place.
Thanks again for your feedback and for helping us improve TurboTenant!
Danni
Merged in a post:
Add Security Deposit Log
K
Kathryn Farhan
Either under Reports or it's own separate tab on the left, add a section to keep a Security Deposits Log.
A simple spreadsheet: address, $ paid, date paid. lease end date. date to return by. At top of list show total $ amount of security deposits being held. I like to do a quick visual check to make sure that total $ number is the same as my bank account $ total.
Add a setting to input when security deposit needs to be returned according to laws. Mine is 60 days after lease termination. This can then auto-populate the "date to return by" column by going off the lease end date. Have these 2 dates auto-change if I end a lease early.
Have a 2nd section to keep track of security deposits that have been sent back. Tenant name, lease address, $ received, $ withheld for damages, $ returned. lease end date. Deposit returned on this date, notes column for mailed to address or tracking number or reasons why $ withheld, checkmark column for confirmation money was received (check cashed, signature of in person return). This would look nice in the blocks that are used for each property block under the properties tab.
Danni
marked this post as
planned
L
Laura
marked this post as
complete
Danni
Merged in a post:
Security deposit deductions document by state
D
Desi Wiedenhoeft
Have a legal document for itemizing deductions taken out of the security deposit. Cleaning, damage, etc. Uploading pictures to it as well.
Danni
marked this post as
under review