Security deposit and last months rent

[Tereal Wilsonn]

At the closing of an already rented property (duplex) of course the security deposit is transferred to the buyer does that mean the last months rent should've also been credited to the buyer ?

[Brie Schmidt]

@Tereal Wilsonn - It depends on when the closing was.  If I close before the 5th of the month, then as the buyer I am usually responsible for collecting the rent that month.  If I close after the 5th, as the buyer I usually get a prorated credit from the closing until the end of the month.  

If the seller has not collected rent after the 5th and wants me to be responsible for rent collection, I push the closing back until they have collected rent and will give me a credit.  There is no way I am going to be responsible for collecting past due rent right off the bat.  I also use an addendum that no units can be sign a new lease, vacated, past due, or in process of eviction prior to closing without my approval