The South Dakota Land Lord Tenant law governs the amount and handling of the security deposit. Here are some key items relating to the security deposit:
- The amount of the deposit cannot be greater than one month’s rent.
- Deposits must be returned within 14 days of the Resident moving out of the property or the landlord is subject to fines and loses the right with hold any part of the deposit.
- Deposits belong to the tenant. The deposit only becomes the property of the owner if money is owed at the end of the lease.
- Deposits are held by Real Property Management Express in a non-interest bearing trust account.
- At the end of the lease, we determine if there are any damages or money owed. If so, we withhold the amount from the deposit and return the remained to the tenant along with an itemized statement of the outstanding charges.
Trusted by Hundreds of Local Residents
The Kattenberg Brothers have raised the bar for rental companies in this
community. They provide a higher level of professionalism and have made a
meaningful impact on our area.
I had the opportunity of working with Real Property Management over the course of a year as a tenant of one of their managed properties in Sioux Falls, SD. They were more than accommodating and extremely helpful whenever we had an issue. We were always treated as a first priority. Based on firsthand experience, I would highly recommend them to any property owners looking for a top-notch property management team!
I have worked with Josh and Derek for three years. They approach the rental management
business with enthusiasm, energy and a desire to provide excellent client service.