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Updated over 8 years ago,
Use security deposit for late rent?
One of our tenants is late with her rent. She paid 50% last month and has not paid this month. She asked me to use her a portion of her security deposit (1.5 months rent) to cover the half month rent for last month. Is it legal or advisable? She told us she will mortgage her house overseas to pay for the rent.
She gets alimony and child support from her husband which was taken into consideration when we rented the apartment to her. She would not qualify based on her own income. However, per our tenant, her husband has been late in paying for several months and she showed us her bank account which is in a bad shape. On one hand, we feel bad for her and has been lenient with her (no late fee was charged). On the other hand, I think business is business and I fear that our kindness will cause trouble collecting or evicting down the line. Any thought?
Thanks,
Sylvia