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AMA - Damage Deposits In Residential Leases
Manage episode 437688870 series 2084625
This question also comes from Chris who is asking a follow-on question from last week’s question on apartment turnover. Last week Chris was asking about how long to budget for making a unit rent ready. So here is his question.
“If the average apartment turn requiring cleaning and “light repair” is around $2,000 shouldn’t the tenant security deposit collected at lease signing be no less than this? Or am I thinking about this wrong and one has nothing to do with the other? I’m simply approaching this with a mindset that you want to try and avoid being in the red for apartment turns coming out out of your pocket.”
----------
**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)
2432 episodi
Manage episode 437688870 series 2084625
This question also comes from Chris who is asking a follow-on question from last week’s question on apartment turnover. Last week Chris was asking about how long to budget for making a unit rent ready. So here is his question.
“If the average apartment turn requiring cleaning and “light repair” is around $2,000 shouldn’t the tenant security deposit collected at lease signing be no less than this? Or am I thinking about this wrong and one has nothing to do with the other? I’m simply approaching this with a mindset that you want to try and avoid being in the red for apartment turns coming out out of your pocket.”
----------
**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)
2432 episodi
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