Are rents, deposits, taxes credited or debited to the buyer?

[Harman N.]

Hi all,

When buying a rental property, are the rents, security deposits, and taxes credited or debited to the buyer? I just bought two rental properties this month, and the close was handled differently:

• In one case, I was debited the rents from close date through end of the month, credited the property taxes, and separately mailed checks for the security deposits (essentially a credit)
• In the other case, I was credited the rents from close date through end of the month, credited the property taxes, and credited the security deposits

Wondering what's typical, and reasons why it may vary. 

- Harman