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Updated about 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Rochester, N.Y.
25
Votes |
20
Posts

Tenant Paying Deposit in Increments?

Account Closed
  • Rental Property Investor
  • Rochester, N.Y.
Posted

Asking for parents and curious myself. They have a vacant rental SFH after a lengthy and expensive eviction. They finally, after 2 months now, found a seemingly fine candidate. However, the woman is asking if she can pay the deposit in increments, instead of in full up front? They told her no, needs to be up front... but I am wondering what others think about this? I would say absolutely not, I have never heard of such a thing, do others allow this?

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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
1,708
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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
ModeratorReplied

I wouldn't do it. First month and deposit upfront or no go. On a unit where I require first, last and security (usually SFH's) I will sometimes allow payments on that "last month" (something like and extra $200/mo until it's paid) but nobody moves in without at least a full month's rent and equal amount of security deposit.

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