Security Deposit Accounting
Security deposit disputes end up in small claims court more than any other landlord-tenant issue. An owner in Broad Ripple learned this the hard way when he sent a vague itemization letter three weeks late. The tenant sued, won double damages plus attorney fees, and what started as a $400 deduction became a $2,000 judgment against the landlord. We had another situation that went to court, and because we were thorough, and well documented, we won our case and our owner received a judgement for over $4000.
Our security deposit accounting follows Indiana law exactly. We document property condition at move-in with photos, videos, and detailed checklists. During the tenancy, our routine property inspections create a timeline of any changes or damage. At move-out, we have clear evidence of what’s normal wear and what goes beyond that.
The accounting happens fast and accurately. Indiana gives landlords 45 days to return deposits or provide itemization of deductions. We complete our move-out & turn coordination, calculate actual repair costs, and send detailed statements ASAP. Faster turnaround means fewer tenant complaints and cleaner records.
We also track deposits throughout the tenancy as part of our rent collection & enforcement process. If a tenant falls behind on rent, we know exactly how much deposit money is available and can advise you on the best approach. The deposit is your money held in trust, and we manage it carefully.
Indianapolis property owners appreciate that we handle the details they often miss. We know which deductions are legally defensible and which ones will cause problems. We understand the difference between damage and depreciation. And we document everything in case a dispute ends up in court.
The result is fewer conflicts, faster deposit processing, and protection from the kind of legal problems that cost far more than any single security deposit is worth.