How Do You Get Your Security Deposit Back?

Getting Your Security Deposit Back in the Current Office Lease Market

Security deposits are a standard part of commercial office leases. While landlords can withhold a portion for repairs or unpaid rent, most aim for a smooth handover and full refund. Here’s how to maximize your chances of getting your deposit back:

Early Communication is Key

Start a dialogue with your landlord at least three months before your lease ends. Inform them of your move-out date and confirm any required procedures.

Avoid Holdover Penalties

Leases often include “holdover penalties” for exceeding the termination date. These can be significant – 150% to 300% of your monthly rent! Ensure you vacate the premises by the agreed-upon date.

Understanding “Good Condition”

Your lease likely defines “good condition” for returning the space. It typically means:

Minor Repairs: Patch and sand small holes in walls for easy repainting by the landlord.
Cleaning: Empty cabinets, shelves, and counter-tops. Wipe down surfaces, including kitchens and restrooms. Clean appliances like sinks and refrigerators.
Reasonable Wear and Tear: Normal wear from occupancy is expected. The landlord typically handles repainting and fixing spackled areas. You’re not responsible for exterior maintenance.

Proactive Measures

Collect Keys and Access Cards: Gather all keys, fobs, and access cards from your staff. Return them in a labeled envelope to the landlord.
Schedule a Final Walkthrough: Schedule a joint inspection with the landlord upon vacating the space. If there are minor issues, address them immediately if reasonable.
Document Everything: Obtain written confirmation from the landlord if everything is satisfactory, with the exception of normal wear and tear.
Request Your Deposit Return: Once everything is complete, send a written request to the landlord for the full security deposit refund.

Partner with a Tenant Rep for a Smooth Exit

Navigating lease agreements and security deposits can be complex. A skilled tenant representative like Mazirow Commercial can help you:

Understand Lease Terms: Ensure you’re fulfilling all obligations regarding the space’s condition.
Negotiate Holdovers: If an extension is unavoidable, a tenant rep can negotiate to minimize holdover penalties.
Document the Process: They can guide you in properly documenting the walkthrough and communication with the landlord.

By planning ahead, communicating effectively, and potentially partnering with a tenant representative, you can increase your chances of a smooth handover and a full security deposit refund at the end of your office lease.

Don’t Go It Alone: Secure Your Competitive Advantage with Mazirow Commercial

Mazirow Commercial is your ally in the commercial leasing game. With our expertise on your side, you can transform your lease negotiation from a David vs. Goliath battle into a strategic win for your business. Call us at (805) 449-1945 for a consultation!

Mazirow Commercial Represents Commercial Tenants and Buyers Throughout Southern California:

Agoura, Beverly Hills, Brentwood, Burbank, Calabasas, Camarillo, Encino, Glendale, Oxnard, Pasadena, Santa Barbara, Santa Monica, Sherman Oaks, Studio City, Tarzana, Thousand Oaks, Ventura, West Los Angeles, Westlake Village, Westwood, Woodland Hills