Additional security deposit

[Tomasz Banas]

I have potential tenants for one of my properties in New Jersey. However, due to medical problems (i.e. cancer), there are collections/judgements on their credit. They are really nice and neat people. They are aware of their credit problems and ready to pay an extra security deposit.

Is there any legal way to get an extra security deposit from the tenant?

[Thomas S.]

Do not rent to any applicant that has collections. They will repeat and the first party to get stiffed is always the landlord. They are offering a bribe because they know that no smart landlord will ever rent to them. It appears you are considering renting which does not look good for your future as a landlord. Reject these applicants.

What is your screening criteria. What are you screening for if you are accepting bad credit. The purpose of screening is to eliminate risks in accepting tenants. You are asking for and guaranteed to have financial losses with these applicants.