Re: Thoughts on First, Last and Security Deposit

Re: Thoughts on First, Last and Security Deposit by tenant advocate on April 22, 2016 @15:34

As suggested look into the specific laws of your state. But here is another idea if you decide to go ahead with the last month being required too: Allow the last month's payment to be split up in payments. How much to split it up is up to you. 3 months to six months is generally a good bet. The earlier it is the safer it is for you but the bigger the burden on the tenant.

Also keep in mind if you are holding $3,000 of the tenant's money and you do anything legally iffy the tenant is far more likely to go after you in court (or in some other way in revenge) over that amount. For a tenant that is a lot of money.

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Re: Thoughts on First, Last and Security Deposit - Landlord Forum thread 344593