Overview
You can refund a lease deposit as part of the Ending a Lease wizard, however, you might need to do this after you already ended a lease. Perhaps you go through a move-out checklist after one of your colleagues already ended the tenant's lease. No worries, you can still refund a deposit even though the lease is now inactive.
The Steps
Use this if you are giving the security deposit or any other deposits back to the tenant after the lease has ended.
To refund a lease deposit after a lease has ended, click Leasing on the main menu and then click Inactive Leases.
Find the lease you want to refund a deposit for and click on it.
Click on the Deposits tab where you will see a list of all available deposits, including the Security Deposit. Click the Refund Deposit button. This can be used for refunding any deposit held.
On the Refund Deposit window, enter the following information:
Paid To Tenant: pick the tenant on the lease you are refunding (there might be more than one tenant on the lease.)
Pay From Account: choose the property bank account you are using to pay back the tenant. (This should be the same bank account holding the lease deposit.)
Payment method: pick among several options to remind yourself later of how you paid the tenant.
Check - Enter a check number if you already have your own checks sent outside of DoorLoop. Otherwise, select "Add to Print Queue" if you plan on printing the check out in DoorLoop. Read: Print a Check for more information.
ePay - Choose this to send a payment electronically if you have already signed up for Checkbook.io.
All other payment method choices require payment outside of DoorLoop.
Description: enter an optional explanation for the refund.
Amount to Refund: enter the amount of the deposit to refund. If there are multiple deposits being held, choose the right category you are making the refund from. (If there is a deposit you are not refunding from, enter $0.00 in the amount field.)
Due Date: change the date for the refund if needed.
Add memo: add an optional memo for your reference when reviewing the refund later.
Add any relevant files and click Save.
A Deposit Refunded summary window will appear. This will give you details of the refund, including if there are any remaining deposits and if there are any more outstanding balances. If ePay or Check was selected, there is the option to complete the ePay or print the check.
If you did the refund correctly, it will look like this on the Transactions tab.
Good work! You refunded a lease deposit. Now this deposit is no longer a liability on your balance sheet.
Next Step: If you choose ePay as the payment method, send the electronic payment to your recipient. To do so, follow the instructions here: Send a Payment to a Tenant, Vendor, or Owner. If you chose to pay via check, you can follow the instructions here: Print a Check. All other options you can pay the tenant outside of DoorLoop.