To refund a decoration deposit, follow these steps: Review the lease agreement for specific conditions, ensure the property is returned in the agreed-upon condition, document any damages, and provide the tenant with a detailed itemized list. If the deposit is to be refunded, issue a check or electronic transfer promptly.

The importance of refunding a decoration deposit promptly lies in maintaining tenant satisfaction and trust. According to a survey by the National Multifamily Housing Council, 70% of tenants believe that timely deposit refunds are a crucial factor in their decision to rent again. Delayed refunds can lead to negative reviews and a decrease in tenant retention rates, ultimately affecting the property's reputation and financial stability.