The goal of American West Realty is to return 100% of your security deposit, but we are also responsible for maintaining the rental. If you follow our guidance and uphold your end of the agreement, we will get the deposit back to you quickly.

Below are some of the basic policies and procedures regarding deposits. If you have a question that isn’t answered below, please contact us.

  1. The purpose of a Security Deposit is a means of holding a Tenant accountable to the terms and conditions of the agreement. It is held in trust until your lease is terminated and you return the rental to us. The Deposit cannot be applied towards any costs until you are out and the lease is terminated. Therefore, it cannot be used for your last month’s rent, repairs, or any other charge during tenancy.
  2. We are required to refund your deposit within 30 days of termination or 15 days after receiving your forwarding address, whichever is later. If there are deductions, we have an additional 30 days to comply.
  3. The deposit may be applied towards unpaid charges, cleaning and repairs, or other costs as outlined in the rental agreement.
  4. Refunds will be mailed to the last known address. If you fail to provide us a forwarding address and the refund is returned, we will place it in your file and wait for you to contact us with a forwarding address.
  5. If there are deductions, we will send any remaining funds and an itemized list of the charges. You will also receive a form to contest the charges.
  6. If the deductions are greater than the Security Deposit, we will send you an invoice with the amount owed. You have 30 days to respond with payment, request of a payment plan, or appeal our decision. We will provide you with a form to file an appeal if you wish to contest the charges.
  7. If you owe more than is in the Deposit and refuse to pay, we will file a collection against all Tenants on the lease. We will add an additional 10% interest per annum to the charges.