Deposits
Managing security deposits for rental properties
Security deposits protect landlords against property damage and unpaid rent. Rentigo helps you track deposit amounts, record transactions, and manage the full lifecycle from collection to return.
Deposit Features
- Full Tracking — Record deposits, deductions, and returns
- Transaction History — Complete audit trail of all changes
- Tenant Visibility — Tenants see their deposit status in their portal
- Deduction Documentation — Record reasons and amounts for any deductions
- Integration with Leases — Deposits linked to specific lease agreements
How Deposits Work
Collect Deposit
Receive the security deposit from the tenant (typically before move-in).
Record in Rentigo
Enter the deposit amount and date received.
Track During Lease
Monitor the deposit status throughout the tenancy.
Assess at Move-out
Inspect property and document any damages.
Process Deductions
Record any amounts withheld for damages or unpaid rent.
Return Balance
Return the remaining deposit to the tenant.
Recording a Deposit
When a tenant pays their security deposit:
Navigate to Lease
Go to the active lease for the property.
Go to Deposits
Click the Deposits tab or section.
Add Deposit
Click Add Deposit and enter:
- Amount received
- Date received
- Payment method
- Notes (optional)
Save
Click Save to record the deposit.
Deposits are linked to leases, not properties. If a tenant renews, you can either transfer the deposit to the new lease or return and collect a new one.
Deposit Status
| Status | Description |
|---|---|
| Held | Deposit is being held during active tenancy |
| Partially Returned | Some amount returned, balance still held |
| Fully Returned | Entire deposit returned to tenant |
| Forfeited | Deposit retained due to damages or unpaid rent |
Viewing Deposit Details
Each deposit record shows:
- Original Amount — What was collected
- Current Balance — After any deductions
- Transactions — All deposits, deductions, and returns
- Status — Current state
- Linked Lease — Which lease it belongs to
Recording Deductions
When you need to withhold part of the deposit:
Open Deposit
Navigate to the lease and open the deposit record.
Add Deduction
Click Add Deduction.
Enter Details
Provide:
- Deduction amount
- Reason (e.g., "Kitchen cabinet repair")
- Date
- Supporting documentation (photos, receipts)
Save
Click Save to record the deduction.
Common Deduction Reasons
| Reason | Example |
|---|---|
| Property Damage | Holes in walls, broken fixtures |
| Cleaning | Professional cleaning beyond normal wear |
| Unpaid Rent | Outstanding rent balance |
| Unpaid Utilities | Utility bills not paid by tenant |
| Missing Items | Furniture or appliances removed |
| Key Replacement | Lost or unreturned keys |
Document all deductions with photos and receipts. This protects you if the tenant disputes the deductions.
Returning Deposits
When the tenant moves out:
Conduct Inspection
Inspect the property for damages beyond normal wear.
Document Issues
Take photos of any damage and get repair estimates.
Record Deductions
Enter any deductions with reasons and documentation.
Calculate Return
Rentigo shows the remaining balance to return.
Process Return
Click Return Deposit and enter:
- Amount returned
- Date
- Payment method
- Reference number
Notify Tenant
Send the tenant a deposit statement (automatic or manual).
Tenant Visibility
Tenants can view their deposit status in their portal:
- Deposit Amount — Original amount held
- Current Balance — After any deductions
- Transaction History — All recorded transactions
- Deduction Details — Reasons for any withholdings
Transparency reduces disputes. Tenants appreciate seeing their deposit status and understanding any deductions.
Multiple Deposits
A lease can have multiple deposit records:
- Security Deposit — Standard damage protection
- Pet Deposit — Additional deposit for pets
- Key Deposit — Refundable key deposit
- Last Month's Rent — If collected upfront
Track each separately with clear labels.
Deposit Reports
View deposit summaries across your portfolio:
- Total Held — All deposits currently held
- By Property — Deposits per property
- Returns Due — Leases ending soon with deposits to return
- Deduction History — Track deduction patterns
Legal Considerations
Deposit laws vary by jurisdiction. Common requirements include:
- Maximum deposit amounts
- Required holding in separate accounts
- Deadline for return after move-out
- Required itemization of deductions
Consult local regulations to ensure compliance.
Deposit Transfer
When a tenant renews their lease:
- You can transfer the existing deposit to the new lease
- Or return the old deposit and collect a new one
- Document the transfer in both lease records
Best Practices
- Collect Before Move-in — Don't hand over keys until deposit is received
- Document Condition — Take photos at move-in and move-out
- Itemize Deductions — Provide specific reasons with documentation
- Return Promptly — Follow local laws for return deadlines
- Keep Records — Maintain transaction history for tax and legal purposes
- Communicate Clearly — Keep tenants informed about their deposit status
Next Steps
- Leases — Managing rental agreements
- Tenant Portal — What tenants see
- Maintenance — Documenting repairs