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

Tenant Screening

As a property owner, finding reliable and responsible tenants is crucial for maintaining the value and integrity of your investment properties. However, the tenant screening process can be time-consuming and complex, requiring thorough background checks and careful...

read more
Commercial Property Management

Commercial Property Management

Are you a commercial property owner in Missoula seeking professional property management services to enhance the value and profitability of your investment? Look no further than Missoula Property Management. With our comprehensive suite of services tailored...

read more
Residential Property Management

Residential Property Management

Are you a residential property owner in Missoula looking to maximize your rental income while minimizing the stress and hassle of managing your property? Look no further than Missoula Property Management. With our comprehensive suite of property management services,...

read more

Client Testimonials

[wprevpro_usetemplate tid=”1″]

Contact us for a FREE rental market analysis.