How To Get Your Security Deposit Back

Security deposits are an unavoidable aspect of renting a property, whether that be in an apartment complex or a single-family residence. McKenna Property Management wants to return your full security deposit back to you, and our favorite move-outs are the ones in which we can provide a full security deposit refund to you. When a property is left in good condition, it makes the move-out process extremely simple and easy. This also makes tenants happy because we can return their deposits. Here are some ways to ensure you receive your full deposit back:


Rent/Utilities: Avoiding unpaid rent charges to your security deposit is the easiest way to receive the maximum refund. To avoid these charges, upon vacancy, make sure that you have no outstanding rent balance and that you are following the property manager's move-out procedure. Remember, most property managers require a 30-day notice to their office, and typically, you must notify them of when you vacate the property at the end of this 30-day period. If you fail to communicate with your property manager during your vacancy, and do not vacate within that 30-day window, you may be charged pro-rated rent as the property manager's office is under the impression that you are still occupying the property. Proper and effective communication is key throughout the entire moveout process. Additionally, any utilities that remain unpaid at a tenant's move-out will be paid down using the security deposit.


Maintenance/Cleaning: Ultimately, it is the property manager's responsibility to protect these properties on behalf of the homeowners. This means that at move-out, any damage found at the property that is above normal wear and tear will be repaired and that charge will be paid via the security deposit, along with the cost of cleaning the property to get it rent ready. To avoid these kinds of maintenance and repair charges, it is best to not make any alterations or modifications to the property that will have to be addressed at move-out. Take good care of the property and thoroughly clean it prior to move-out. Please make sure to follow the guidelines in your lease and information that your property manager will send to you during your move out to help you determine the cleaning standards.


Move-In Condition Report: Lastly, the best way to avoid security deposit charges is by submitting your Move-In Condition Report, or similar document, when you first move into the property. This report serves as documentation of the condition of the property prior to your tenancy, and prevents charges to your security deposit that were not the result of your tenancy. In most cases, this report is only accepted for 30 days after your move-in, and failure to return this document to your property manager within that timeframe is your acceptance of the condition of the property. If your property manager does not provide a document of this nature, you can always take photos of the property at move-in and email them to your property manager so that you both have documentation of the condition of the property.

April 28, 2025
Helping Your Child Buy a Home: Smart Strategies with Tax Benefits  Many parents want to help their children buy a home, but doing so in a way that also provides financial and tax advantages is key. Here are a few strategies to consider when assisting your son or daughter with homeownership while maximizing tax benefits. 1. Gifting Money for a Down Payment The IRS allows individuals to gift up to $18,000 per recipient annually ($36,000 for married couples) without triggering a gift tax. If you stay within this limit, your child receives a down payment boost without tax consequences. 2. Loaning Money to Your Child Instead of gifting, you can lend money at the IRS’s Applicable Federal Rate (AFR), which is often lower than traditional mortgage rates. Structuring it as a formal loan allows your child to build equity while you may receive interest income. 3. Co-Signing or Co-Owning the Home Some parents choose to co-sign a mortgage or co-own the home. While this can help secure better loan terms, it also means shared financial responsibility. If you co-own, you may be able to deduct mortgage interest and property taxes on your tax return, depending on usage. 4. Buying the Home as an Investment Property If your child pays you rent, the home could be classified as an investment property. This allows you to deduct expenses like mortgage interest, property taxes, and maintenance. However, rental income must be reported to the IRS. Final Thoughts Every financial situation is unique, and tax laws change. Consulting with a tax professional or estate planner ensures that your support aligns with your financial goals and tax strategy. Helping your child buy a home is a generous step—doing it wisely ensures benefits for both of you.
April 21, 2025
When applying for one of our rental properties, we use a comprehensive screening score sheet to ensure all applicants are held to the same standard. The score sheet evaluates various aspects of your financial stability and rental history, helping the landlord make informed decisions while maintaining a fair and transparent process! Here’s a breakdown of how we assess your application utilizing the screening score sheet: 1. Length of Residency: While longer periods at previous residences typically suggest reliability and commitment, we understand that some applicants may be first-time renters. We welcome first-time renters, and on the screening score sheet, you can assign yourself a "1" under "Length of Residency" if this is your first rental experience! 2. Collections: We review any outstanding collections, including monthly utilities or bills, as well as loans (excluding medical bills). This helps us assess your overall financial responsibility. Your estimated monthly payment for all your loans, utilities and bills is also taken into consideration. 3. Rent-to-Income Ratio (per household): To ensure you can comfortably afford the rent, we require that your monthly income is at least 2.5 times the rent amount. This ratio helps us verify your ability to manage rent payments alongside other living expenses. 4. FICO Score: While there is no specific minimum FICO score, we do take it into account when evaluating your financial health. A higher score indicates a history of responsible credit management. 5. NSF/Late Payments & Landlord Disputes: We look into your rental history to ensure that there are no frequent NSF (non-sufficient funds) or late payments, and that there are no unresolved disputes with previous landlords. Please note that all application charges are non-refundable, and every occupant over the age of 18 must submit a separate application. Our scoring system ranges from 0 to 21, with 15 being the lowest acceptable score. All approvals or denials are ultimately decided by the property owner. We do not operate off a first come first serve basis, so if you are curious about the status of applications prior to applying, please don’t hesitate to call our office! By using our screening score sheet, we aim to create a rental environment where both tenants and property owners can thrive. This score sheet can be found on our site, under the Before You Apply Manual, as well as under “Rental Resources”.
April 16, 2025
Looking to declutter your home while making some extra cash? The outdoor swap meet at the Downtown Recreation Center in Henderson is the perfect opportunity! Whether you’re cleaning out your closets, clearing space in your garage, or finding a new home for gently used toys, books, and clothes, this event is your chance to turn those items into money. Each booth equals two parking spots, and registration is required at least one week in advance. All booths are assigned randomly, ensuring a fair and fun atmosphere for all. Remember, only second-hand items can be sold, so it’s a great way to recycle and give your items a second life. Event takes place April 19th & May 17th! The swap meet opens at 7am, so come early to shop! Admission is free for all ages, making it a perfect outing for families looking to find unique treasures. Ready to get started? Simply register on the City of Henderson website to secure your spot. It’s time to clean out, earn some extra cash, and find something new – don’t miss out on this exciting event at the Downtown Recreation Center!
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