I haven't received any credit for the last tenants' deposit so I emailed the accounting department of the property management company. The reply was both startling and depressing. They said that the deposit would be applied to November's rent when the check bounced since they paid me but didn't actually get the money. WHAT? I looked over all of my old statements and sure enough, in December there appeared a $1,100 negative balance. I thought that meant the tenants didn't pay December's rent but no. Evidently, they paid November's rent and then the rental company paid me and then the check bounced and the rental company didn't ask for their money back. They just quietly put it on the monthly statement as a negative number.
Perhaps someone messed up and paid me before waiting the usual 10 days and was hoping that the tenants would pay it later and no one would notice. This messes up my savings plan even more because I owe the rental company my portion of November's rent plus $750 for carpet and house cleaning. The deposit will only cover November's rent...maybe. I asked when I would get the deposit and she said that they were processing them yesterday but I haven't seen it yet. I suppose I won't see it until I get my next statement. Then, the first month's rent from the new tenants will have to go towards the maintenance fees.
This tenant turn-over has cost me thousands of dollars. 5 months lost rent, eviction and maintenance fees, $1,600 for the stolen AC unit, at least $500 for the utilities which are all back in my name, plus misc. items like light bulbs, batteries, weed and bug killer, curtains to replace the laundry doors, 2 vacation days and 4 Saturdays of my own time and labor,
I am really not happy with how the property management handled this tenant turn-over. I lost just as much money as when I handled it myself. The only benefit was that it was less stressful because I didn't have to evict them myself. When the contract runs out I will definitely be switching. I need to start asking around. Someone has got to be able to do it better.