Security Deposit - 50% up front and 50% due before move in?

[Account Closed]

One of my rental units is vacant at the end of June 2015. I'll do some sprucing up during July (some cosmetic stuff) and want a tenant to move in 1 August 2015 at the latest. My property manager started showing the apartment and I got an application. Everything checked out in screening and I gave her the go ahead to get the lease signed. He wanted to pay the security deposit at move in and I said hell no. Then we discussed maybe that he pay 50% of the security deposit on lease signature and the remaining 50% by mid July, and first months to be paid before moving in on 1 August 2015. This was a concession I didn't like to make so I specified that the lease must state that the security deposit (the first 50%) is non-refundable in the event that the second 50% is not paid by 15 July 2015. At least I'd have some money in the bank and 2 weeks to find another tenant.

In general, do you think this was a reasonable, yet sound strategy * or should I have been tougher to demand 100% security deposit paid on lease signing? I appreciate the feedback.

* Legally this is fine to do where I'm from. 

** In the end, the guy ended up renting somewhere else and my property manager continues to show the apartment to other prospective tenants.

[Robert Leonard]

Hi @Account Closed you are right to have reservations about this type of arrangement.

Anyone who has trouble coming up with the full deposit is one car problem away from not being able to pay their rent.  I NEVER negotiate on the deposit.  Inability to come up with that is a clear indicator of financial weakness.