Balance Owed After Moveout - Demand for Payment

Balance Owed After Move out – Demand for Payment

Does one of your former tenants still owe you a balance after vacating your rental property? With this all-in-one document, you can legally notify them that they are in arrears and request payment for what they owe at the same time.

After a tenant moves out, you or your property manager will go in and assess the wear and tear and damages on the property before making repairs and reimbursing the tenant any funds that are left from the security deposit. If the cost to repair the damages to the property exceeds the amount of the security deposit, then your tenant will owe you the difference. With this form, you can notify your former tenants when they owe you for damages not covered by the security deposit. This demand for payment will state how much money is still due, provide payment instructions, and warn your former tenant of the consequences of not paying.

Who: You, the landlord, will serve this Balance Owed After Move out form to any tenant who still has a balance due after the security deposit has been applied to repairs to the property.

What: This document both notifies the former tenant that they have a balance due and gives them instructions in order to pay the balance. In addition, it delineates the consequences of failing to pay the balance.

When: You may send this document as soon as you discover that the tenant’s security deposit is insufficient to cover the cost of repairing damages and wear and tear to the property.

Related Landlord Resources:

Whether you have a former tenant who still owes you a balance, you may also find these documents to be relevant. These are generally helpful documents for landlords looking for new tenants or attempting to collect due or past due rent or balances from current tenants:

• Phone Screening Ledger
• Cosigner Notice of Overdue Balance
• Rent Reminder
• Past Due Payment Arrangement Agreement

IMPORTANT: You may not send this form to a former tenant if you have not already applied their security deposit to the cost of the repairs to the property. Furthermore, the costs of repairs will not include the cost to upgrade the property but only to return it to the condition it was in when the former tenant first moved in. If the tenant can prove that the damages to the property were in existence before they moved in, then they will not owe you for those repairs.