Get the free Landlord Tenant Closing Statement

This document outlines the financial details between a landlord and tenant regarding the closing statement. It includes information related to security deposits, charges, credits, and amounts due.

How to fill out landlord tenant closing statement

How to fill out Landlord Tenant Closing Statement

1. Obtain the Landlord Tenant Closing Statement form from your local housing authority or online.
2. Fill in the property address and the names of the landlord and tenant at the top of the form.
3. List all security deposits collected, along with the date received and the amount for each.
4. Include any unpaid rent owed by the tenant, specifying the amount and the time period it covers.
5. Itemize any deductions that the landlord can legally make from the security deposit, such as repairs or cleaning fees.
6. Calculate the total amount of the security deposit, any unpaid rent, and deductions to find the final balance due or refundable.
7. Have both parties review the completed statement for accuracy.
8. Sign and date the Closing Statement to acknowledge agreement on the amounts listed.

Who needs Landlord Tenant Closing Statement?

1. Landlords who are managing rental properties.
2. Tenants who need to understand the financial settlement at the end of a lease.
3. Real estate agents assisting in property transactions.
4. Property management companies handling rental agreements.

This is a Landlord Tenant Closing Statement — Reconcile Security Deposit, where the landlord records the deposits and credits, fewer deductions from the credits or security deposit for delivery to the tenant. It is used to document for the benefit of both parties the monies held by the landlord and due to the landlord.

A security deposit is a payment required by a landlord from a tenant to cover the expenses of any repairs of damages to the premises greater than normal “wear and tea”.” Everyday usage is normal wear and tear, but excess damage is a debated definition. A security deposit is not the same as rent. It is money that actually belongs to the tenant but is held by the landlord for tenant-caused damages and sometimes past-due rent. Without the agreement of the landlord, a security deposit may not legally be used as the last month's rent.

Laws vary by state, but some states place a limit on the amount of a security deposit that a landlord may charge. Some states also regulate where residential security deposits must be kept and when interest payments on the security deposits must be made to the tenant. State laws also define the time period after the tenant vacates within which the deposit must be returned to the tenant.

People Also Ask about

How to write a letter of ending a lease?

How to Write an Early Lease Termination Letter Date and Address. Begin your letter with the rental property address and the date. Salutation. Statement of Intent. Reason for Early Termination. Reference to Lease Agreement. Security Deposit Details. Proposed Termination Date. Offer to Assist With the Transition.

What do you say to end a tenancy?

You should say something like: “I am giving 1 month's notice to end my tenancy, as required by law.

How to write an end of tenancy letter?

To <your landlord's name> I'm writing to you to end my tenancy at <your address>. I have checked the legal notice period, and I'm giving <your notice period> notice to end my tenancy. I will move out of the property by <date>. Please contact me to confirm that you have received this notice.

What should a landlord statement look like?

To Whom It May Concern: I am the landlord of [Renter's Name]. I am writing to confirm that [Renter's Name] resides at my rental property: [specific address: Street Number, Street Name, Unit Number (where applicable), City, State, Zip Code]. [Renter's Name]'s lease term began on [Start Date of Lease].

How do you ask a tenant to leave nicely?

If you're on good terms with your tenant Tactfully explain why you want them to leave; Be considerate and sympathetic; Give them as much notice as possible; Try to be as accommodating as possible; Provide assurance that they have done nothing wrong, it's purely circumstantial

What is the word for ending a lease?

Difference between termination and eviction Termination happens when either the tenant or the landlord decides to end the lease agreement by choice. On the other hand, eviction is when the landlord takes legal action to remove a tenant from the rental property because of lease violations or other breaches of agreement.

How do you terminate a tenancy relationship?

Legal Grounds for Termination of Tenancy. Philippine law provides limited grounds upon which tenancy relations can be legally terminated: Voluntary Surrender by the Tenant – A tenant may voluntarily relinquish his tenancy rights, in which case the landlord-tenant relationship is terminated.

What do you say when ending tenancy?

You can send your letter by email if your tenancy agreement says you can. You should say something like: “I am giving 1 month's notice to end my tenancy, as required by law.

For pdfFiller’s FAQs

What is Landlord Tenant Closing Statement?

The Landlord Tenant Closing Statement is a document that outlines the financial transactions that take place at the closing of a rental or lease agreement, detailing the final accounting between the landlord and the tenant.

Who is required to file Landlord Tenant Closing Statement?

Typically, the landlord or property management company is responsible for preparing and filing the Landlord Tenant Closing Statement. However, both parties should review the statement for accuracy.

How to fill out Landlord Tenant Closing Statement?

To fill out a Landlord Tenant Closing Statement, include all relevant financial details such as rent amounts, security deposits, fees, and adjustments. Clearly label each section, providing a breakdown of each charge and credit.

What is the purpose of Landlord Tenant Closing Statement?

The purpose of the Landlord Tenant Closing Statement is to provide a clear record of all financial transactions related to the rental agreement, ensuring transparency and accountability between the landlord and tenant.

What information must be reported on Landlord Tenant Closing Statement?

The information that must be reported on the Landlord Tenant Closing Statement includes the total rent due, any security deposits, fees, repairs, utility charges, and any credits or adjustments applicable to the lease.