How can we get around high move in cost?

[John Hagen]

We are having some trouble filling our vacancies here in November and it’s not from lack of interest, it’s from lack of money for the deposit. We are getting a lot of questions and showing request from our marketing in which we post the rent. The rent price is not the problem either it’s the deposit. Our vacant apartments are in a blue collar town where 19 and 20 year old are getting factory jobs for $14-$20 an hours, but no one has any savings. 

We have been talking about 2 options and want some input, we have no desire to reinvent the wheel.

1) Charge $100 extra a month for 5 months to get the deposit

2) Charge $60 a month extra on the appartments and put it straight into maintiance account

Any experience with this is welcome as is other ideas.

Please and Thank you