Median gross rent in Kansas was just under $1,000 up until 2022, according to The Journal.
For landlords in Kansas City, KS, understanding the regulations surrounding security deposits is essential. By staying informed, Kansas City landlords can protect their investments, have favorable tenant relationships, and more.
Keep reading to learn about the main aspects of handling security deposits in Kansas City, KS.
The Extent of the Security Deposit
A security deposit serves as financial protection for a Kansas City landlord. It stands between you and potential damages to the rental property, unpaid rent, or breach of lease terms. The deposit can help cover expenses related to property repairs beyond normal wear and tear or outstanding balances.
Landlord-Tenant Laws in Kansas
You must understand the legal limit on collecting a given security deposit. According to Kansas State Law, landlords may charge up to:
- One month's rent for an unfurnished rental property
- One and a half month's rent if the rental property is furnished
Such a regulation ensures that tenants aren't weighed down. It also helps maintain fairness in the rental process.
Handling and Storing the Security Deposit
It's true that the state doesn't mandate that security deposits be held in separate escrow accounts. Still, it's a wise practice.
Doing so ensures transparency and protects landlords in case of disputes. Keeping clear, accessible records of the deposit amount, deposit date, and any deductions made is also essential.
Permissible Deductions
Security deposits can only be used for specific purposes. In Kansas City, KS, a landlord may deduct from the security deposit for:
- Unpaid rent or other financial obligations as stated in the lease agreement
- Repairs for damages that aren't everyday wear and tear
- Cleaning costs if the rental property is not left in a clean condition
It's essential to differentiate between regular wear and tear and tenant-caused damage. The latter justifies deductions from the deposit.
Returning the Security Deposit
Kansas law dictates a specific timeframe within which security deposits must be returned to tenants. Kansas City landlords have 30 days after the end of the lease to return the deposit or provide an itemized statement of deductions.
If deductions are made, landlords must include a written explanation outlining the costs and reasons. Otherwise, you could be hit with penalties.
Ensuring Compliance With Deposit Regulations Kansas
Do you want to maintain compliance and protect your rental property security? If so, Kansas City landlords should:
Write Up Clear Lease Agreements
Clearly outline the conditions under which deductions may be made from the security deposit. Specify obligations related to property care and return.
Have Thorough Move-in and Move-Out Inspections
Use checklists and photographs to document the property's condition at both stages. Doing this can act as vital evidence in disputes.
It's Time to Master Security Deposits
By following the rules of security deposits, you can protect yourself and remain within legal limits.
PMI Station can handle security deposits, rent collection, property maintenance, and other essentials. Our Kansas City team has been providing holistic solutions for years.
Do you need property management in Kansas City? The PMI team in Kansas City would love to offer you a complimentary rental analysis.
