Deposit handling starts before the money is collected.
Review current deposit rules and any applicable exception for the actual landlord and tenancy. Describe the payment accurately in the agreement and provide the appropriate record of receipt.
Keep the deposit ledger and custody responsibility clear. The amount held, transfers and eventual accounting should be traceable through the lease, transaction records and management agreement.
Use current California deposit guidance and the actual Pomona lease rather than an old standard amount.
Create the deposit record
Keep collection and custody aligned
- 1
Review the proposed terms
Check current guidance and property-specific circumstances.
- 2
Record the receipt
Match the transaction to the tenant, unit and executed agreement.
- 3
Assign custody and handoff
Document responsibility for balances, transfers and final accounting.
Make the next step clear.
Use these prompts to organize the decisions and responsibilities for your home. Keep sensitive applicant and tenant information in the appropriate secure system.
Your action checklist.
Use current California deposit guidance and the actual Pomona lease rather than an old standard amount.
A few things worth asking.
Is an additional pet deposit automatically allowed?+
Review the total deposit rules and applicable animal-related requirements before adding a charge.
What happens when managers change?+
Reconcile the deposit balance and document who receives and assumes the custody and accounting responsibility.