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Landlord Tenant Closing Statement to Reconcile Security Deposit Virginia Form

Landlord Tenant Closing Statement to Reconcile Security Deposit Virginia Form

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landlords how well do you understand your security deposit you should know by now that the Texas property code requires that you issue a refund or send an itemized list of any valid deductions or both to your tenant within 30 days after they have fully surrendered the premises and given you a forwarding address well what happens if you miss the 30-day deadline if that's the case you may be unable to deduct any valid deductions from that deposit because the property code presumes that you have acted in bad faith now this presumption can be rebutted but you would have to demonstrate to a court if you're being sued for wrongful withholding that there are some valid justification for you going beyond the deadline if not you may be on the hook not just for the full refund of the deposit but for statutory damages court costs and your tenants attorneys fees

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