Rent and Security Deposit Procedures
1. All rents are due on the first of each month, considered late at 12:00am on the 5th and eviction proceedings begin thereafter.
During the eviction proceedings, in order to reinstate the lease and stop the eviction, the tenant is required to pay any past due rents and eviction costs.
Edenbridge will follow through with all needed actions and keep the property owner updated regarding the eviction process.
2. Tenant's security deposits are maintained in a separate, non-interest bearing trust account in accordance with Indiana Law. Edenbridge recommends a minimum 90% FMR security deposit per unit.
3. Rent is prorated from the first day of occupancy
4. Upon successfully satisfying all Lease requirements, the security deposit may be refunded to the tenant. Owner or Manager will refund the deposit if the following conditions have been met:
a) Tenant has provided the proper notice to vacate the property
b) The tenant has remained in the property for the full term of the Lease
c) The property is vacant and left in the same or better condition that it was received in with the exception of normal wear and tear. This is
determined by comparing written reports which are completed by Edenbridge and the Tenant during the initial occupancy and upon the tenant
d) Verification all tenant utilities are paid in full
Vacant Property Procedures
1. Once a property has been vacated by the tenants, any necessary work can be scheduled and coordinated by Edenbridge on behalf of the owner. Repairs needing to be completed that fall under a tenant’s responsibility shall be deducted from the tenant’s security deposit. Normal wear and tear repairs will require owner funding.
2. Once repairs and cleaning services are completed and property is in rent ready condition, the property can be listed, per the owners approval, in all advertising sources listed above under "Step 1." The process of locating a well-qualified tenant and all management services thus repeat themselves.
If we place a tenant in your property and for any reason the tenant becomes in default of the lease agreement, we will assist you in the eviction process (excluding legal fees) or the removal of that tenant, and find you a new tenant at no additional management charge! No fine print, no excuses, for any reason your tenant is in default of the lease, we will warranty that tenant for FREE! Good for 9 months from date of lease on all tenant placements. (Excluding any cleaning or repair fees)
Thank you for your interest in Edenbridge!