Our platform helps you easily wrap up the finances involved in the move-out process. Here are three ways the balances can be settled:
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If there is a positive balance:
- This usually means your tenant’s deposit payment covers more than is needed for potential charges, and you need to pay them back the excess amount.
- To keep Proper and your accounting system up to date, you register the date you pay the amount back to the tenant. Note: As Proper always transfers all funds to you, you will need to payout the amount to the tenant’s bank account yourself.
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If there is a negative balance:
- This means your tenant owes you a sum and you can set a due date for this payment.
- Once you set a due date and generate the statement, the tenant will be emailed this bill via Proper Talk.
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If the balance is zero:
- This means no action is required from either party.
In all cases the tenant is sent an email via Proper with the move-out statement attached for their reference. Additionally, to provide you with a clear overview, Proper automatically registers the changes in balances and updates the transactions list on the lease.
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