Security deposit for 1 month delayed move in

[Derek Brawders]

Good evening all,

Looking for input if you don't mind. Have a potential tenant that requesting to view my property (new construction condo) on 9/3, but can't move in until 10/1 due to a relocation.

They are willing to put a deposit down upon review, but i'm essentially 'holding' the property for a month before they move in.. 

First property, no tenants yet.. (has been on the market for 2 months.. multiple applicants and offered leases who vanished when it came time for the deposit)
Was considering requiring the security deposit with 1/2 of it being non-refundable due at signing if they backed out of the lease as i'll essentially be keeping the property vacant for a month.

Security deposit is essentially equivalent to 1 month's rent.

First month's rent due on 10/1 when they move in.

Normal application process applies .

I really don't want to pay another mortgage payment on this property, but i'd sacrifice that if i can get a solid tenant in.

Thanks all, still learning the ropes..

[Theresa Harris]

I'd be more concerned that it has been listed for 2 months and you haven't found a tenant.  Take the deposit (full deposit, not 50%), but make it 100% non-refundable if they don't move in.  Once they move in, it becomes their deposit...however, also make them pay to hold it.  You are losing 1 month's rent by holding it for them.  Also have them put the utilities in their name.