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Landlord Tenant Closing Statement to Reconcile Security Deposit - Arkansas

Landlord Tenant Closing Statement to Reconcile Security Deposit - Arkansas 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 and damage 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 information is crucial for identifying the parties involved.
Fill in the tenant's information, including names, forwarding address, and new phone number. This ensures that all communication regarding the security deposit is directed appropriately.
Next, input details about the security deposit. Include the amount paid, any other deposits made, and any rent credits applicable. This section summarizes financial transactions related to the lease.
In the 'Charges to Deposit and Credits' section, list any cleaning charges, damage repairs, unpaid rent, uncollected late charges, and interest. Be thorough to provide a clear account of deductions from the security deposit.
Calculate and enter total charges and credits. Then determine amounts due to both tenant and landlord based on these calculations.
Finally, ensure that you sign and date the document before delivering it to the tenant. If there’s an amount due to landlord, include payment details as well.

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What is the entry for a security deposit in accounting?

Security deposits are usually shown as liabilities on the security deposit balance sheet. Its recorded this way because funds might need to be returned to the tenant at the end of the lease.

How to get deposit back at end of tenancy?

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 the security deposit law in Arkansas?

Security deposits: If you are required to pay a security deposit, you cannot be charged in excess of two months rent. For example, if your rent is $500 a month, a landlord cannot require a security deposit of more than $1,000. When you move, the landlord must return your security deposit within 60 days.

How is a security deposit recorded?

Security deposits must be placed in an escrow bank account in a federally-insured banking institute in the United States.

What is the Act 1052 in Arkansas?

Act 1052 impacts rental agreements by ensuring certain tenant protections. While it focuses on general tenant rights, including maintenance obligations, subleasing agreements must comply with these standards as well.

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