California has changed the laws relating to Security Deposits for all long term and seasonal rentals.
As of July 1st, 2024, the limit is one month’s rent for a Security Deposit. For landlords who own no more than two residential rental properties that collectively include no more than four total units for rent, the limit is two times the monthly rent, but only if the landlord is a natural person or a limited liability company in which all members are natural persons.
As always Security Deposits can only be used for Past-Due Rents, damages caused by tenants or guests, cleaning the property, or the cost of restoring the landlords personal property.
Tenants are to fill out Move In forms upon moving in, we ask they take about a week to fill it out and return it. They are also welcome to a move in inspection with one of us in the office so we can confirm any and all issues upon move in.
We still have 21 days to return the deposit or deliver an itemized statement explaining any deductions unless they’re below $125.
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