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Updated over 7 years ago,
Increasing rent, do I increase Security Deposit and Last month to
Hey guys,
I'm in the process of increasing my rent at one of my units and was wondering how you all handle the last month's rent held and the security deposit. Do you request and additional deposit as well?
So if my rent was $1,000 and i'm increasing it to $1,100, if they've already paid last months rent of $1,000 and a security deposit of $1,000, do you all request an additional $200 deposit to account for the shortfall? Or just leave the security deposit and last month's payment as is at $1,000 and then expect them to make up for the shortfall on last month's rent?
Thanks for your time.