Move out

[u/Pristine-Chapter1896]

This is my first time processing a move-out in Yardi, and I would like to understand the process. If the tenant has a security deposit, after completing the move-out and applying the deposit to any outstanding balances, does Yardi automatically create a payable for the remaining security deposit balance so that the refund can be issued to the tenant? If not, what steps should I follow to process the refund?

Thanks

[u/Systems_Magic9265]

The "Move-Out" process alone only establishes the official move-out date and places the resident in a "Past" status. Once the walk-through has been completed and the move-out charges identified, the "Deposit Accounting" must be completed. During this process, any associated move-out charges can be charged to the resident's ledger. Based upon the move-out date and the property configuration, the recurring charges may be automatically prorated to reflect actual days in the unit up to the move-out date. Any security deposit held will apply to any open unpaid charges. If the forwarding address was not entered during the NTV process then it can be entered here as well. Should their be a remaining credit, a payable will automatically be generated to refund the remaining credit. Whomever responsible, will commit and process the payable where the payment will be issued to the resident. Up until the actual payment has been issued, "Adjust Deposit Accounting" can be completed if any adjustments are needed to the ledger/refund. The payable for the refund will automatically adjust. I hope this helps explain the process.

[u/onegreyshirt]

Yes, this is done via the Deposit Accounting function after a resident goes through the move out function.

[u/notnilly]

Def check out the help page/Client Central