Breaking the mindset of the Security Deposit covering the last month's rent

[Mark Yuschak]

This is something I routinely struggle with in my rental business. Nearly every tenant thinks their last month rent is to be covered by the security deposit. Each time it comes up, I have to school them about what the deposit is actually for. About 50% of the time I will get the last month's rent, then refund the deposit as applicable. The other 50% of the time they don't pay and assume the deposit has them covered.

In the case where they don't pay, I treat it like they're delinquent and issue the 7-day notice. Usually it falls on deaf ears and they still move out. If they don't move out, at least I've gotten the process started and not wasted any time (and only a First Class stamp).

Does anyone else have this issue? Any tips to help overcome this tenant mindset?