I don't want to get dinged double the security deposit for not returning a Security Deposit when due.

How is the hive returning a Security Deposit before expenses are unknown, i.e. as follows:

Security Deposit in WI is Due 21 days after move out

H20 Bills Due at an unknown date after tenants move, are responsible for, but payment is not due until some future date (bills are for prior periods, but due after that period, but at a date sometime after the 21 day security deposit is due.

Rent is due on the 1st of each month after tenants move (if replacement tenants are not found; ELT), again, security deposit is due 21 days after move.

Thanks in advance for your valuable input!

Dee Ann [WI], for the water bill, why not call the water company and ask them for an estimated bill for the meter reading and the date when the tenant moved out. I do this all the time.

I was just thinking about this, as I may have a turnover soon . Hadn't come up with a perfect solution, though City of Milwaukee will do a reading for a fee of $35. At least that's what its been in the past; haven't looked it up lately. I don't know if the reading generates a bill, or if I would have to calculate it. And, if it does generate a bill, how does it handle all of those other charges City of Milwaukee is tacking on to the 'Combined Services Bill.' Haven't ever used this. I don't care to spend $35 of my tenant's security deposit on city fees.

I'm thinking I may do something like take an average of the last, oh, maybe two or three years' bills for the quarter we are in, then prorate the tenant's portion. Then, to show I am not attempting to overcharge, I could even take off $10 with a notation that is done to ensure I am not overcharging, as it is an estimate. Just realized- MWW probably doesn't show records that far back, so might not be able to take an average. Might just be able to use the last year's quarter only.

On security deposit accounting statement ( hmmm... I think there is a more correct name for that, but it escapes me just now...) anyway, I put a few items that were questionable as to whether wear and tear or damages, and I show zero charges for those questionable items. There may also be some items that are certainly damages, with the charge listed. By showing a few things that I decided to NOT charge for, I am showing that I did err on the 'side' of leniency.

Get a bid from a reputable contactor for the repairs. When you do the refund, issue it would the words "This is a preliminary estimate of charges based on bids for work to be completed. Actual charges may vary and will be settled as soon as work is complete."

Now here's the kicker: most states allow 30 days. Yours only allows 21 which means you have to be Johnny on the Spot getting these things started. If you're not able to finish the work by then I'm guessing one of two things has happened: 1) the place is SO badly damaged that all the deposit will be eaten up and they will be the one's owing you or 2) your list of contractors is too short and you need a few backups, because you wouldn't want to get stuck with an existing tenant who cannot get service for a legit maintenance issue in a reasonable time.

3 weeks should be enough time to gather bids.

So the ball is kind of in your court on how to handle this, but at least you should make some effort to notify the tenant of the situation and return any funds you're fairly sure you will not need. My guess in this case is the damages are so bad that there isn't going to be a penny going back to them anyway, so you just send them the bids showing a total above the security deposit and let them know if it ends up not taking the whole thing then you will refund the balance. That way they have the accounting statement on time; it is accurate to the best of your knowledge; and you have offered to return anything that isn't needed.

Worse case they'd try to sue you for double damages on $0, and that won't work out to well for them.

In CA, law allows landlord to deduct from deposit what is final, and to withhold good faith estimate of expenses not yet billed.

Check your own laws to see if you can do that, too.

BUSY: I'm in your situation> A few rentals, never been to court as I am fair and honest. I do the same as your thinking on the water bill, taking the last year's quarter would be the most accurate, then deducting $10 with the notation is an excellent idea.

GENE: I LOVE the idea of a water bill deposit and using from now on. I do take an additional $100 on each room deposit, and have not specified it to be for anything specific, so will do it your way next occupancy.

I don't believe there will be damage, but you never know. I was there on an inspection today and will be back Friday for an additional inspection on issues I asked to correct.

Wow, we have 45 days to return the deposit with a statement of what the funds were used for.