Tenant Move Out |
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This form is used to tell the system how the tenant security deposit money is to be disbursed. It can be fully refunded, partially refunded and partially used to pay charges, or fully used to pay charges. There are two folders of information, Released Deposits, and Current Charges.
New charges can be posted by using the button to go to the Charge Tenant function.
See the Help on Security Deposit Refund or the How to PDF document #205 for step-by-step instructions on releasing the deposit money, disbursing to tenant and/or owner and moving between bank accounts (if appropriate).
Note: Since tenant deposits are generally kept in a separate bank account, the physical transfer of the amount released may be done using several methods. See the How to PDF document #205 or Transferring Security Deposit Money.
The fields on the right of the screen are protected. They contain information from the tenant ledger about balances. The amounts are updated as changes are made (new charges, withhold). Date Use this date field to enter the posting date of the move out transactions. Unit/Tenant Select the unit or tenant for the moveout. Withhold Enter any amount you wish to withhold from the refund amount. This does not include amounts which will be used to pay off current charges. It is used for the amount you are withholding from the check for future bills which have not yet been received. Distribute The sum of released deposits, starting open credits and interest is used to pay off current charges. If the charges exceed the credit, this checkbox can be unmarked to allow manual allocation against the charges. Write Refund Check If the refund check is not goint to be written now unmark this checkbox.
Tenant Move Out - Protected Fields Starting Open Credits The amount of money currently in open credits in the tenant ledger. Released Deposits The amount of security deposit being released. Interest The interest on the security deposit calculated according to specifications in the Rate Table assigned to the tenant (defined in Setup). If this amount must be adjusted, see Adjusting Interest. Current Charges Paid The sum of the current outstanding charges which will be paid with the security deposit. The charge line items are listed in the Current Charges tab. Refund Check This is the calculated amount of the refund check based on all the information above and any amount withheld. Final Open Credits Any money left in the tenant ledger that has not been used to pay off charges and is not part of the refund check amount. Starting Deposits This is the amount of security deposit being held. Starting Charges This is the sum of all unpaid charges. Final Deposits This is the portion of the security deposit that has not been released. Final Charges This is the sum of all charges that are going to be left unpaid.
Released Deposits - line items The line items displayed here are the security deposit amounts currently being held. The detail information displayed for each deposit includes: Date the date it was received Charge the Charge code used Amount the amount of the deposit Release the amount of the line item to release Pay Interest a checkbox indicating whether interest is being paid on the deposit
The line items displayed here are outstanding charges currently in the system.
The Edit box
Clicking anywhere on the line will allow you to edit the amount to pay off and will display additional details. The details displayed include: Due Date The date the charge was posted. Charge The Charge Code for the charge. Amount The amount of the unpaid charge. Pay The amount of the charge to pay off with the security deposit. This is the only field you can edit. Disputed A check box to indicate if the charge is disputed. A disputed charge will not be considered for payment. Payee The name of the person or entity the charge is owed to. This line only displays in the edit mode. |
above the vertical scroll bar will toggle the line items from view, to one line edit, to every line edit.