Landlord Tenant Closing Statement to Reconcile Security Deposit - Wisconsin 2026

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The document is a Landlord Tenant Closing Statement that outlines the financial transactions between a landlord and tenant at the end of a lease. It includes details such as the landlord's name, tenant information, security deposit amounts, cleaning charges, unpaid rent, and total amounts due to both parties. The document also provides space for signatures and comments.

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Click ‘Get Form’ to open the Landlord Tenant Closing Statement in the editor.
Begin by entering the Landlord's name and the leased premises address at the top of the form. This establishes who is involved in the agreement.
Fill in the tenant information, including names, forwarding address, and new phone number. This ensures that all parties can be contacted regarding the security deposit.
Input the security deposit amount paid and any other deposits or rent credits applicable. This section summarizes what has been paid and what credits are available.
List any charges against the deposit, such as cleaning charges or damage repairs. Be specific to provide clarity on deductions made from the security deposit.
Calculate total charges, amount due to tenant, amount retained by landlord, and any amounts due to landlord. Ensure accuracy for a smooth reconciliation process.
Finally, sign and date the document before delivering it to the tenant. This finalizes your agreement and confirms all details are correct.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is a security deposit a debit or credit?

The person paying the security deposit would credit the asset account Cash and would debit the asset account Security Deposits. The person receiving the security deposit would debit the asset account Cash and would credit the liability account Security Deposits Returnable.

Should a security deposit be listed on a closing statement as a credit?

At the end of your tenancy Your landlord must return your deposit within 10 days of you both agreeing how much youll get back. If youre in a dispute with your landlord, then your deposit will be protected in the TDP scheme until the issue is sorted out.

What is a credit on a closing statement?

Some FAQs on Security Deposit Accounting Security deposits are typically listed under current assets if theyre expected to be returned within a year. If they will be held for more than a year, they might be listed under long-term assets.

What is the law for security deposit return in Wisconsin?

Security deposits should be listed on a closing statement as a credit to the Buyer. This represents the buyer receiving the funds back as they fulfill their contractual obligations.

How to get deposit back at end of tenancy?

Its essential to know what cannot be deducted from a tenants security deposit. Prohibited deductions include: Normal Wear and Tear: Deductions for minor wear and tear, such as small scuffs on walls or loose doorknobs, are not permitted.

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How are security deposits listed on a closing statement?

In a real estate closing statement, security deposits are typically listed as a credit to the Buyer. This is because the security deposit functions as a form of assurance that the buyer will meet their obligations, such as making timely rental payments or maintaining the property.

Landlord Tenant Closing Statement to Reconcile Security Deposit - Wisconsin 2026

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