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Landlord Tenant Closing Statement to Reconcile Security Deposit - North Carolina 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 our 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.
In the Tenant Information section, fill in the tenant's name(s), forwarding address, and new phone number. This ensures that all communication is directed correctly.
Next, input the security deposit amount paid, along with any other deposits and rent credits. This will help in calculating total credits accurately.
List any charges against the deposit, including cleaning charges and damage repairs. Be specific about each charge to maintain transparency.
Calculate total charges, amount due to tenant, amount retained by landlord, and amount due to landlord. Ensure all calculations are correct for a smooth reconciliation process.
Finally, 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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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

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.

Does a landlord have to provide receipts for security deposit deductions in NC?

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.

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.

What are the rules for security deposits in NC?

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.

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

If the landlord wants to deduct damages from the security deposit, they must include a written, itemized list of these deductions and send it via first-class mail or in person. Keep in mind that if you cannot make this itemized list, you will not be able to withhold the tenants security deposit in any way.

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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.

Landlord Tenant Closing Statement to Reconcile Security Deposit - North Carolina 2026

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