Returning Security Deposit to Multiple Tenants

[ws6whiteshark]

What is the name of your state? MD

For all you LL's out there, have a question for you.

I have 5 tenants leaving at the end of August and they are all under one lease. According to MD law, the tenants have the right to receive, by first class mail, delivered to the last known address, a written list of the charges against the security deposit and the actual costs, along with any unused portion of the security deposit within 45 days after the termination of the tenancy. How would you handle distribution of the security deposit when they will all have different addresses? I could just send one check via certified mail, requiring all of them to have to sign for it at the Post Office. Just trying to see how most of you would do this. Thanks.

S

 

[johnd]

The latter.

 

[Alaska landlord]

I guess you a referring to a roommate situation. In that case don't you have a copy of the original check issued to you? If so, why not return the deposit to the person that originated the deposit and let him worry about how to distribute it?

 

[ws6whiteshark]

I guess you a referring to a roommate situation. In that case don't you have a copy of the original check issued to you? If so, why not return the deposit to the person that originated the deposit and let him worry about how to distribute it?

The deposit was paid in cash. Plus there are some items that I will need to deduct from the security deposit, which they are already aware of and are okay with.

 

[Cvillecpm]

This is the way to return tenant(s) security deposits.....

In your check-out instructions you request that a size #10(business) SAE (self-addressed envelope) with their forwarding address on it be provided to you with the unit keys. Then you make the deposit return check payable to ALL TENANTS and mail it in the envelope they provide via USPS delivery confirmation......NOT certified mail which they have to sign for....USPS delivery confirmation allows you to track delivery to the address they have provided to you.

Make a copy of the envelope prior to mailing for your file....works like a charm.

 

[Alaska landlord]

The deposit was paid in cash. Plus there are some items that I will need to deduct from the security deposit, which they are already aware of and are okay with.

OK, then you must have issued a receipt. you can return the cash to the receipt holder. If need be you can also write a check with all names of the tenants on it.

Cville beat me to it****************************.Actutally, I like her response better.

 

[ws6whiteshark]

This is the way to return tenant(s) security deposits.....

In your check-out instructions you request that a size #10(business) SAE (self-addressed envelope) with their forwarding address on it be provided to you with the unit keys. Then you make the deposit return check payable to ALL TENANTS and mail it in the envelope they provide via USPS delivery confirmation......NOT certified mail which they have to sign for....USPS delivery confirmation allows you to track delivery to the address they have provided to you.

Make a copy of the envelope prior to mailing for your file....works like a charm.

Sounds like a good idea... however, my tenants are all moving to different addresses. Sooo, I could ask them to figure it out amongst themselves on where the check will be mailed to, problem is, tenants don't trust one another...LOL! It's funny, some moved in as friends but are leaving on not so friendly terms.