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This doesn't count for a security deposit

May 02, 2024

Our latest conspiracy theory:

Tenant's will do anything to dodge paying with cash.

Here's one:

A Tenant offers to swap sweat for the security deposit.

They'll paint walls.

Fix the squeaky door.

Even turn your jungle of a garden into a Zen retreat.

Sounds tempting, right?

You're thinking, "Why not? Saves me the weekend."

But here's the snag.

How do you even price that sweat?

It's like tipping your barber with compliments - feels good, but won't cut it.

Security deposits are lawsuit magnets.

And valuing sweat equity is more like a wild guess than an exact science.

Do yourself a favor:

Only take money for security deposits. 

Hard work and hopes don't work when things get legal.

By Landlord Legal

Not your handyman, just issue #108 of The Brief.

We've been on nightly teepee watch ever since lawyers heard we don't charge Legal Plan members to chat with our lawyers. #SorryNotSorry

DISCLAIMER: Heads up - none of this is legal advice. We share stories and laughs about legal stuff for Landlords.  Do your own homework and stay safe out there!