Tenant Security Deposits Overview

Rentec Direct property management software helps you keep track of deposits for your tenants via a separate deposit ledger to ensure these deposit funds do not get mixed in with regular rent payments and monthly transactions.

This article is an overview of Tenant Security Deposits including how to Edit, Delete, and Print.

Not finding what you're looking for? Try Receiving Tenant Deposits or How to Charge an Expense Against a Tenant Deposit

Pro Tips:

• Most states, as well as general accounting principles for landlords, require this separation of funds.
• It's best to manage the Tenant's Security Deposit prior to moving out. If transactions on the Tenant's Security Deposit are made after moving out, the transactions may need to be added manually to the property and/or bank account ledgers.

The Deposit Ledger Basics

To locate the tenant deposit ledger in your software, follow these simple steps. 

In your Rentec Direct account: 

1. Click on Tenants
2. Click on the tenant balance to access the ledger
3. At the top of the ledger, you'll find their On Deposit link
   1. A red balance indicates the deposit is not yet fully funded
   2. A green balance indicates that the deposit is fully funded

4. Click on On Deposit to access the Security Deposit ledger and options

   
   

The deposit ledger has been designed to allow you to complete all the tasks necessary for receiving and processing deposits and other separately held funds.

Within the security deposit ledger, you will presented with the following options: 

Edit or Delete a Security Deposit Transaction

In your Rentec Direct account: 

1. Click on Tenants
2. Click on the tenant balance to access the ledger
3. At the top of the ledger, click on On Deposit to access the Security Deposit ledger
4. Click on the paper/pencil icon to view the transaction details
5. Make necessary changes and click on Save Changes or
6. Click on Delete to delete the transaction

Print a Deposit Ledger

It's easy to print a copy of the tenant security deposit ledger or email it directly to the tenant.

While in the Security Deposit ledger, click on Print Deposit Ledger for the option to:

• Print the ledger as a csv or pdf
• Email a copy of the ledger