TurboTenant does not currently offer the ability to refund your tenants through our platform. This is largely due to restrictions set in place by our payment processor, Stripe.
Refunding Tenants
In order to issue a refund to your tenant, our team recommends refunding the tenant outside of the platform. While this requires a bit of patience, this is certainly a best practice, as it eliminates any possible confusion.
It's best to wait until the payment has been fully processed and deposited into your bank account before refunding. The processing time for a payment typically takes between 3-5 business days, so if you are on the Premium Plan and get your funds sooner, we recommend waiting 5 business days to ensure the payment is actually successful and is not pulled out of your account.
Security Deposit Refunds
For security deposit refunds, we strongly advise landlords to review their local landlord/tenant laws. Generally, security deposits must be returned via mail in the form of a check. When a tenant moves out, it is important to have the new address on hand.
Although this is not a substitute for seeking out legal advice, you can use this link to access TurboTenant's State Landlord/Tenant Laws page. Additionally, we have a few helpful blogs that may provide more information!
💡 TurboTip - If you refunded your tenant their security deposit, you can use the activity log in your tenant messages to make a record of that return! The Activity Log is a private note center you can use for your records.
To access this, you can go to your tenant tab, select the name of the tenant, and then select the messages tab! The activity log will be underneath the messages with your tenant.
