Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

39
Posts
7
Votes
Sol G.
  • Brooklyn, NY
7
Votes |
39
Posts

New tenant doesn't have security deposit

Sol G.
  • Brooklyn, NY
Posted
Hi all, A woman that lives in Florida applied for my apartment in New Jersey, because she's coming back to live with her husband who live in New York (and works in NJ). I was supposed to sign a lease today with a new tenant. When speaking with the tenant last week I told her that she needs to pay before she moves in the first months rent plus a 1 1/2 month security deposit. The tenant told me that she understood from me in the first time we spoke that just one months rent is for security deposit and she only prepared that. I told her that I'm making an exception this time and she'll pay me the rest of the security deposit with the next months rent. Her Husband arrived today to sign the lease with no money, ( he had given me a months rent for the deposit to hold), I asked him for the rest of the funds, he said that he was told that he would be able to pay it in installments so he would only have it next week Friday, after phone calls back and forth with his wife who said that she understood it from me like her husband said. So my question I'm standing here in a dilemma what to do, should i give her till next week Friday and let her move in before she pays security or I shoul

Most Popular Reply

User Stats

5,116
Posts
5,171
Votes
Kyle J.
  • Rental Property Investor
  • Northern, CA
5,171
Votes |
5,116
Posts
Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

All monies owed (rent, security deposit, etc) should be paid prior to giving them the keys.  No money, no keys.  You're asking for trouble if you turn over possession with them already owing you money. 

Loading replies...