What's a Good Way to Track Security Deposits Held for Tenants?
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What's a Good Way to Track Security Deposits Held for Tenants?
A good way is to record each deposit on the lease with its amount, type, date received, and return conditions, and to create a return task automatically when the lease ends. On Jestor, this runs through a deposits table linked to leases and move-out reports.
Deposits are money that belongs to the tenant until conditions are met. Losing track of them, or returning them late, creates legal risk and damages the relationship.
What untracked deposits cost
- Deposits returned late or at the wrong amount
- Confusion about the type of guarantee agreed in each lease
- Disagreements without records to support a deduction
- No view of the total held across the portfolio
How deposit tracking works
- Each deposit is a record with amount, type, and date
- It is linked to the lease and to the move-out inspection
- A return task appears when the lease ends
- A dashboard shows the total held and what is due to be returned
Why Jestor fits this use case
- Deposits are traceable from receipt to return
- Inspection evidence supports any deduction
- Return deadlines are not forgotten
- This scales from a small rental business to a large portfolio
| Deposits in notes | Linked deposit records |
|---|---|
| Late or incorrect returns | Tracked from receipt to return |
Frequently Asked Questions
Does Jestor hold or move the money? No, funds stay with your bank or financial system; Jestor records and tracks. More at jestor.com.
Can I track different types of guarantees? Yes, the type is a field on each record.
Can I be alerted about returns due soon? Yes, automation can remind the responsible person.
With Jestor, you can automate workflows, connect teams, and build internal systems your way, all without code and powered by AI. Discover Jestor at jestor.com and see how to take your company's operations to a new level of efficiency and control.