When will I get my deposit back?

After our residents move out of one of our rental properties, we will often be asked, "When can I expect to receive my security deposit?" 

Each month we have many recurring tasks and procedures. In an effort to maximize efficiencies we batch together these tasks as much as possible. And, our security deposit disposition process is no exception. Every month we have a number of residents who have moved out at the end of the previous month. Once possession is turned back over to Qwest Property Management, we immediately get engaged in the necessary activities and tasks to get the property rent ready again. Every turnover is different, but generally, this may include getting the property re-keyed, a carpet cleaning, detail cleaning and possibly some paintwork or minor repairs. 

Because of all the work which must be coordinated and all the time it takes our contractors to get the work completed. We typically do not receive invoices from our contractors until toward the last week or so of the following month after our residents have moved out. In order for us to process the security deposit dispositions, we need to have these invoices in those rare circumstances where we need to assess the costs of damages against the security deposit. Additionally, for our properties where the residents are responsible for paying the water bills. We have to wait for the water department to issue the final water bills, and either verify that the former residents have paid it or make a deduction from the deposit to cover those bills. 

So, because there is a lot that goes into our deposit dispositions and we need to wait until we get all of the appropriate information needed, including third-party invoices and final utility bills. The security deposit disposition statements and checks generally are mailed out towards the end of the month for those residents with leases that ended the month before. 

If you have not provided your forwarding address to Qwest Property Management. You will want to do that as soon as possible by emailing us at info@QwestPM.com.