Oregon Landlord Tenant Closing Statement to Reconcile Security Deposit
About this form
The Landlord Tenant Closing Statement to Reconcile Security Deposit is a legal document that allows landlords to record the security deposits and any credits due to tenants after deductions for any damages. This form is crucial for ensuring transparency between landlords and tenants regarding the funds held by the landlord. Unlike rental agreements, this form focuses specifically on the handling and return of security deposits.
What’s included in this form
- Landlord's details: Identification and contact information of the landlord.
- Tenant's details: Identification and contact information of the tenant.
- Security deposit amount: Total amount of the security deposit held by the landlord.
- Deductions: Itemized list of charges or damages deducted from the security deposit.
- Final balance: Amount due to the tenant after deductions have been made.
- Signatures: Space for both parties to sign and date the document.
When this form is needed
This form should be used when a tenant is moving out of a rental property and a landlord needs to return the security deposit. It is especially important in situations where there are deductions for repairs or damages beyond normal wear and tear. It serves as a formal record that both parties can refer to if any disputes arise regarding the return of the security deposit.
Who this form is for
- Landlords seeking to document the reconciliation of a tenantâs security deposit.
- Tenants who are moving out and want to ensure proper handling of their security deposit.
- Real estate agents or property managers acting on behalf of landlords.
Instructions for completing this form
- Identify the parties: Fill in the landlord's and tenant's names and contact information.
- Specify the property: Provide the address and details of the rental property.
- Document the security deposit: Enter the total amount of the security deposit collected.
- List deductions: Clearly itemize any deductions for repairs or damages.
- Calculate the final balance: Note the remaining amount to be returned to the tenant.
- Sign and date: Ensure both parties sign and date the document for authenticity.
Notarization requirements for this form
This form does not typically require notarization unless specified by local law. It is, however, advisable for both parties to keep signed copies for their records.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to itemize deductions clearly, leading to disputes.
- Not signing the document, making it less enforceable.
- Incorrectly stating the amount of the security deposit or final balance.
Benefits of using this form online
- Easy access: Downloadable format for convenient use and storage.
- Editable: Tailor the form to fit specific circumstances or state regulations.
- Reliable: Form drafted by licensed attorneys ensures legal compliance.
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FAQ
Security deposits are assets or liabilities, so you cannot deduct them as expenses as a tenant and you need not declare them as income on income tax returns as a landlord until you use them.
Dear Name: I am writing to provide notice of my request that you refund the security deposit paid in the amount of $1500.00 for the rental of Address, City, State Zip Code. I vacated the residence on 00/00/00 without any damages beyond oridnary wear and tear.
If your deposit didn't need to be protected and your landlord refuses to give it back, you might have to take them to court. Going to court can be expensive and stressful.You'll need to take your landlord to the small claims court to get your money back.
Request deposit back You will need to request your deposit back in writing and give your landlord 10 days to respond to the request. An editable PDF letter for you to complete and send to your landlord or letting agent at the end of the tenancy in order to formally request the return of your deposit.
Mail your landlord a letter requesting that she return your deposit. Be polite and simply inform the landlord that you have vacated the property and would appreciate the return of your deposit once she has had a chance to complete any checks and paperwork.
Landlords in Oregon can keep all or a portion of a tenant's security deposit for unpaid rent, damage in excess of normal wear and tear, and other breaches of a lease agreement.
Tenant's name and new address, or address he gave for return of the security deposit. Commencement date of the lease and date it ended. Amount of the security deposit when the tenant moved in. Amount of interest accrued.
Your landlord must return your deposit within 31 days after the termination of the tenancy and the delivery of the rental unit to the landlord.
Landlords in Oregon can keep all or a portion of a tenant's security deposit for unpaid rent, damage in excess of normal wear and tear, and other breaches of a lease agreement.
