Acknowledgement of WPM SOUTH LLC Refund Policy
Regarding Security Deposits
WPM South, LLC will be holding your security deposit in trust. Your deposit is refundable; however, we would like you to understand how the process will work once you have vacated the property.
- Your property manager or assigned agent will prepare a preliminary accounting of your deposit within twenty-one (21) days after:
- Your lease term has ended; and
- You have vacated the property.
- Also within that twenty-one (21) day period, after the preliminary accounting is complete, you will receive a Tenant Security Deposit Move-Out form with an itemized summary of estimated charges along with a check for any funds that we are certain are refundable.
- Per the terms of the lease agreement, your property manager or assigned agent has an obligation to ensure the property is restored to its initial condition as when you moved in, except for wear resulting from ordinary use of the property. Your Move-In & Move-Out Condition Report will be used to determine the original condition. Please refer to your lease terms for required charges and the Tenant Security Deposit Move-Out form for any estimated charges your property manager or assigned agent is estimating to have done.
- Once all required charges and final invoices have been received, your property manager or assigned agent will do a final accounting of your deposit and refund any remaining money due. Any final water and sewer charges that are due will be paid from the security deposit.
- Depending on the amount of work needed and time to receive final invoices it may take up to sixty (60) days or more to complete a final accounting of the deposit refund.
- While you are living at the property, you should notify your property manager or assigned agent immediately if you believe that there are any repairs or maintenance needed that is the landlord’s responsibility. Ordinarily, we do not encourage tenants to do or arrange for repairs or maintenance except as provided in the lease agreement or on a case by case basis by the property manager or assigned agent, or in an emergency. Reimbursement of your costs will not even be considered unless it is clear that the expense was reasonably justified and you present legible receipts.
- WPM South, LLC and your property manager or assigned agent would like to have a smooth transition refunding any funds from your deposit that may be due. Our goal is to avoid any disputes and make the refund process a mutually rewarding experience. We suggest communicating and working with your property manager or assigned agent prior to vacating to speed up the refund process. If you should have any questions please contact your property manager or assigned agent for further information regarding your security deposit.