In Massachusetts - We purchased a 4 family house and one of the tenants did not have a security deposit. If we allow them to resign the lease for the next year can we make them pay a security deposit?
Yes with a new lease you can require they pay a deposit when they do not have a deposit with the previous lease. Provided you have a signed esstopal letter from the tenant indicating they had no deposit with the previous landlord.
They may also choose to move out as opposed to signing.
Investor · greater Boston and greater Tampa areas · Member since 2013 · 100 posts · 25 votes
7y
I think you need to let the tenant know about the security deposit requirement way ahead of time. Give them some time to come up with the money. That will be a win-win for both of you.