Landlord Tenant Closing Statement to Reconcile Security Deposit - Georgia: Fill out & sign online

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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 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, along with any other deposits or rent credits. This section summarizes what has been collected from the tenant.
List any charges against the deposit such as cleaning charges, damage repairs, unpaid rent, and late charges. Be thorough to provide a clear account of deductions.
Calculate total charges and determine amounts due to both tenant and landlord. Ensure accuracy for a smooth reconciliation process.
Finally, sign and date the document before delivering it to the tenant. You can easily add your signature using our platform’s signing feature.

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Can a landlord keep interest on a security deposit?

No, even if the tenant agrees that you are entitled to keep any part of the deposit at the end of the tenancy, all interest accrued becomes payable to them.

How long does it take to get a security deposit back in Georgia?

If the amount paid was for a security deposit, Georgia law requires it to be returned thirty (30) days from the date the tenant vacates.

What is the security deposit law in Georgia?

Your deposit has to be protected even if someone else paid it for you, for example your parents or a friend. Your deposit doesnt have to be protected if youre a lodger or a student in halls. It also doesnt have to be protected if you rent privately and have an assured or protected tenancy.

What is true about security deposits as they apply to a standard leasing contract in Georgia?

In Georgia, there is no maximum limit set by law on the total amount a landlord can charge for a security deposit. However, a security deposit cannot exceed 2 months rent. This means if the monthly rental rate is $1,000 per month, the maximum security deposit allowed would be $2,000.