Tenant only has half the deposit amount

[Jonathan M.]

I just closed on my first rental this past Wednesday. The rental is an out of state property located in Kansas City, MO.

I have property management and they have a prospective tenant. The problem is that the tenant does not have the full deposit amount of $600. They only have half and they want to pay the other half later.

In my mind that seemed like a red flag so I told the property manager to hold off and keep showing the house unless the prospective tenant has the full deposit amount plus first months rent.

Did I do the right thing?