Corrective Action Plan: Management acknowledges the deficiency regarding the timely return of tenant security deposits and will strengthen its internal controls to ensure that security deposits are processed and returned within the required timeframe. The following corrective actions will be implemented: 1. Move-Out Tracking: Management will maintain a tracking process for all tenant move-outs, including the move-out date, security deposit balance, applicable deductions, and required refund date. 2. Timely Processing of Security Deposits: Upon notification of a tenant move-out, responsible staff will promptly review the tenant account, determine any allowable deductions, and process the remaining security deposit for return within the applicable required timeframe. 3. Management Review and Monitoring: A designated supervisory employee will periodically review outstanding tenant security deposits and the move-out tracking report to identify deposits approaching their required return date and ensure timely processing. 4. Documentation and Record Retention: Documentation supporting the calculation, deductions, refund, and date of return of each security deposit will be maintained in the tenant's records to demonstrate compliance with applicable requirements.