Return a Tenant Deposit
The system makes it easy to return the entire deposit or a partial amount back to a tenant.
Returning Deposit
When you are ready to return a deposit to a tenant, you can either return the entire amount or a portion of the deposit by following these instructions.
A. Returning the full deposit
In your Rentec Direct account:
- Click Tenants
- Right-click and choose View Ledger from their menu (or click on the tenant ledger balance).
- Click the On Deposit button to enter the deposit ledger
- Select the Return Deposit action
- Specify the Amount that you are crediting back to the tenant
- Select the Payment Type
Note: If you are printing checks from the program, be sure to select Print Check as the payment type. - Select the bank Account you'll be removing the funds from
- Add a Memo as needed
- Click Save Changes
Note: To provide your tenant a deposit reconciliation statement, click on the printer icon in the upper right corner of the Deposit Ledger.
B. Returning a portion of the deposit
For those who wish to return only a portion of a deposit and/or prefer the look of the standard tenant statement to issue out to tenant's after move-out (because the tenant has charges against their deposit), we recommend you follow the instructions to Apply Deposit As Tenant Credit, followed by Charging Against a Deposit.
More information about applying a deposit as a tenant credit can be found here: Apply Deposit as a Tenant Credit
More information about charging against a deposit can be found here: How to Charge an Expense Against a Tenant Deposit