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Updated over 6 years ago,
How much do I charge for a deposit to hold?
Hello All,
I am currently in the process of renting out my unit in Derry, New Hampshire for the first time and noticed in The Book on Managing Rental Properties that it recommends taking a deposit to hold the unit after accepting a new tenant. Because this deposit typically transfers over to the new tenant's security deposit, should I be charging an amount equal to the security deposit or only a fraction of that amount? What is common practice? Thanks!