Simple mistake costs Missoula property managers

Simple mistake costs Missoula property managers

One simple, common mistake often costs untrained Missoula property managers a lot of money.
Many landlords collect a security deposit from tenants to be used towards any potential damages or cleaning upon move out.
                                                                                                                                                                                                           
Per Montana state law, in order to collect a security deposit, a move in property condition report must be documented. The tenant must also be given the opportunity to review this report and add any information regarding the current state of the property and any pre-existing conditions.
                                                                                                                                                                   
This report can be referred to upon move out if there are discrepancies regarding the cleanliness of the property or any damages that may have occurred during tenancy. 
                                                                                                                                                                                           
If a property condition report does not exist, Missoula property managers cannot legally charge the tenant for any cleaning or damages upon move out and must refund the security deposit in full. If a landlord falsely charges the tenant, the tenant can pursue treble damages or up to 3 times the amount of the security deposit under unlawful withholding conditions in court.
                                                                                                                                                                                                                       As this is a costly mistake, at Missoula Property Management, we ensure that we complete a property condition report at every move in, and allow tenants the chance to review and add to it. The report is kept in the tenant’s file for their entire tenancy, but also entered digitally into our software in case of fire, flood, or other natural disaster that could damage the original report. We also encourage the tenant to keep a copy for their records.
                                                                                                                                                                                             
If you’re a Missoula property manager and you believe you may have collected a security deposit without following proper protocol, call us today at 406-251-8500 and we can assist you on how to still come out on top. 

Latest Featured News

Guide to Renting For the First Time

Guide to Renting For the First Time

Renting a home for the first time can be an exciting experience, but it's important to be informed and prepared to make informed decisions. Here are some key things to keep in mind: Budget Determine your budget and understand the total cost of renting, including rent,...

read more
Top 10 Mistakes People Make When They Invest in Real Estate

Top 10 Mistakes People Make When They Invest in Real Estate

Investing in Missoula real estate can be a great way to build wealth, but it's important to be aware of the common mistakes that people make. Here are some of the most common mistakes to avoid: Failing to do proper research One of the biggest mistakes people make is...

read more

Client Testimonials

[wprevpro_usetemplate tid=”1″]

Contact us for a FREE rental market analysis.