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Jonathan M.'s profile image
Jonathan M.'s profile image
Jonathan M.
  • Investor
  • from Los Angeles, California
  • Member since Sep 1, 2013
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User Stats

71
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16
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Jonathan M.'s profile image
Jonathan M.'s profile image
Jonathan M.
  • Investor
  • from Los Angeles, California
  • Member since Sep 1, 2013
Connect
Jonathan M.
  • Investor
  • Los Angeles, CA
16
Votes |
71
Posts
General Landlording & Rental Properties

Tenant only has half the deposit amount

Jonathan M.
  • Investor
  • Los Angeles, CA
Posted

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?

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