Ask Experts Questions for FREE Help !
Ask
    EliteRealtor's Avatar
    EliteRealtor Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 31, 2010, 11:05 AM
    How does one broker transfer security deposit to another broker
    We are a real estate company that is managing a property for a homeowner. The tenant wants to renew the lease, but, we will not be managing the property anymore. How do we transfer the security deposit to the new property management company? Which forms do we use and who do we notify?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Jan 31, 2010, 11:29 AM

    Normally the owner of the property should send you a letter in writing asking you to return the deposit to him, or to send it to the new management company.

    You would send it along with a letter that they would sign and send back stating they have received it from you. ( send you a receipt)

    And of course you can as most do, merely mail a check to the new management company with copy of rental files
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Security Deposit Never Cashed-Landlord Wants to Use It to Pay the Broker [ 1 Answers ]

Hi! I entered into a year lease on May 1, 2008. My landlord never cashed my security deposit check. In November, I got laid off due to the downturn in the economy. I knew I would be unable to afford the rent payments at my current apartment, so I contacted my landlord with the situation. She...

Stock broker [ 1 Answers ]

Can anyone please name the Online stock brokers for trading in International Stock Excahnges other than USA ? Also, Please Rank the best one if you can... I appreciate your help. Thank you.

View more questions Search