Handling Security Deposits When You’ve Been Terminated by the Landlord

I was managing a property, and the property management agreement is terminating today. A tenant in the property previously notified us that he will not renew the lease. The lease ends 30 days from today. I have the security deposit in my trust account. What do I do with the security deposit?The security deposit is a deposit given by the tenant to the landlord as security for the tenant's performance under the lease. The landlord must account to the tenant for the deposit at the end of the lease. When the Residential Leasing and Property Management Agreement (TXR 2201) terminates, paragraph 7(c)(2) states that the property manager returns the security deposit, less deductions authorized by the agreement, to the landlord and provides the tenant with a written notice stating 1) the property management agreement has ended, 2) the exact dollar amount of the security deposit, 3) the contact information for the owner, and 4) a statement that the owner is responsible for accounting for and refunding the deposit to the tenant. If the property manager complies with the above provisions, the landlord indemnifies the property manager from any claim or loss relating to the return of the security deposit to the tenant.