Deposits
Deposits that never disappear
A deposit is the tenant’s money until they move out. Estate Ledger keeps it apart from the rent and the commission, and settles it in the open.
Held, not earned
The deposit is billed at move-in (one month’s rent by default) and held by the agency or by the landlord, as you set for each property. It never counts as income or as rent, and the deposits held report lists every one.
Settled at move-out
In the open, in this order, with a paper for the tenant at the end.
- What is owed. Rent still unpaid, damage you charge and the last water or power bill.
- Paid from the deposit. The deposit settles those first.
- The rest refunded. By cash, bank or mobile money, or kept on the lease to refund later.
- Printed. The settlement prints for the tenant to sign.
Unused days
If a tenant leaves part way through a period they have paid for, you can waive the unused days, worked out day by day, so they are not charged for time they did not stay.
When the landlord holds the deposit
The landlord received it at move-in, so Estate Ledger remembers it on the lease. At move-out the refund is paid on the landlord’s behalf and charged to them.
Questions about deposits
More on the questions page.
What if the deposit does not cover what is owed?
The deposit settles what it can, and the rest stays on the ended lease as owed by a former tenant, in its own list.