Moving Out? The Deposit Checklist I Send Every Outgoing Tenant
The move-out and security deposit checklist TND sends outgoing tenants in Mumbai: last rent, utility bills, a short hold and refund to the source account.
I'm Ankita Chourasia from the operations team at TND Listings. This month I've been handling move-outs at two flats in Thakur Village, Kandivali East, and I send every outgoing tenant the same short email. I'm sharing it here because most deposit fights start with one side not knowing the rules.
Can the last month's rent be adjusted against the security deposit?
No. This is the first line of my email, and it surprises tenants more than anything else. The security deposit exists to cover what is still unknown on the day you leave: the final electricity and gas bills, society dues, damage beyond normal wear. If the last month's rent is quietly "adjusted", the deposit is gone before any of those are known, and the owner is left chasing money from someone who has already moved.
So the rule is simple: pay the last month's rent as usual, and the deposit is settled separately.
What do I ask for before settling the deposit?
- Proof of the last two months' rent, if those payments haven't been logged in the TND app yet. A screenshot of the bank transfer is enough.
- The current month's utility bill, with the amount consumed. If the bill isn't out yet, the previous month's bill helps us estimate.
- Bank details for the refund, and it must be the same account the deposit was originally paid from.
Pay the last month's rent as usual. The deposit is settled separately, once the final bills are known.
Why is part of the deposit held back for a while?
Electricity and gas bills arrive after you leave. So once we have the current bill, we confirm a small amount to hold temporarily, usually around ₹20,000, for about 45 days or until the next tenant occupies the flat. When the final bills are paid, the balance comes back to you. Everything else is released straight after handover and inspection.
Why must the refund go to the original account?
It keeps the money trail clean. The deposit came from one account, so it goes back to that account. It protects the tenant, the owner and us, and it avoids awkward questions if anyone checks the books later, which matters a lot for NRI owners whose accounts are reviewed for tax.
What happens on the owner's side?
While the tenant is serving notice, we're already looking for the next one. In one Powai case on our Owners' Wall, the next tenant was booked three weeks before the move-out date. The goal is zero empty days between tenants and a deposit settlement that both sides can check line by line.
My checklist for tenants, in one place
- Give written notice as your agreement requires.
- Keep paying rent until the end, including the last month.
- Log every payment in the TND app, or send screenshots.
- Share the latest utility bill.
- Share bank details for the account you paid the deposit from.
- Hand over keys, access cards and remotes at inspection.
Frequently asked questions
How long does a security deposit refund take?
Most of the deposit is released after handover and inspection. A small hold for final bills is released when those bills are settled, usually within about 45 days.
Can I get the refund in a different bank account?
We refund to the account the deposit came from, to keep the record clean.
What can be deducted from the deposit?
Unpaid bills, society dues and damage beyond normal wear, shown item by item.
Related reading
Moving out of a flat we manage? Write to operations@tndlistings.com and I'll send you the checklist for your flat.
Warmly,
Ankita
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Off Veera Desai Road, Andheri West,
Mumbai, Maharashtra 400053 +91 88504 51835
Prabhadevi, Mumbai,
Maharashtra 400025 +91 8850451835
Shakespeare Sarani, Kolkata,
West Bengal 700017 +91 88504 51835
Thakur Village, Kandivali East,
Mumbai, Maharashtra 400101 +91 88504 51835
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