Re: First, last and security deposit - Landlord Forum thread 151738

Re: First, last and security deposit by Anonymous on February 21, 2008 @20:00

The purpose of the SD is to ensure against non-payment and damages. It seems counterproductive to accept installments for monies designed to protect the LL and premises to begin with. This tenant cannot afford the rental, obviously. What is the purpose of stretching them financially beyond their already meager means. No SD, no lease. No credit, no lease. No references, no lease. NO MONEY, no lease!
Ever hear of the catch and release program? Let this one go. There will be others.

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Re: First, last and security deposit by ace (CO) on April 24, 2018 @11:55	[ Reply ]

If your tenant is following the "only rent a place that is 1/3 Of your monthly income," then you, by asking for first last and deposit, are actually asking for a full month of their income up front just to move in. Which means you are asking them to give you every penny they have earned for the past month. That doesn't sound like their poor to me, you just expect them to sacrifice too much for the privilege of paying your mortgage.