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General Landlording & Rental Properties
HomeForumsGeneral Landlording & Rental PropertiesIs this the right way to do a Deposit to Hold a unit?
Jared Miller's profile image
Jared Miller's profile image
Jared Miller
  • from Elkhart, Indiana
  • Member since Feb 15, 2017
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Jared Miller's profile image
Jared Miller's profile image
Jared Miller
  • from Elkhart, Indiana
  • Member since Feb 15, 2017
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Jared Miller
  • Elkhart, IN
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15
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General Landlording & Rental Properties

Is this the right way to do a Deposit to Hold a unit?

Jared Miller
  • Elkhart, IN
Posted Oct 25 2019, 09:34

I'm a landlord of 2 weeks.  I bought a duplex - 1 side came with a tenant. Filling the other.  I have a guy that looks great on paper, but doesn't want to move in for 30 days because he needs to give his current landlord 30 days notice, which, I completely respect him for doing.  Here's what I was thinking...Can I ask him for a deposit to hold now that will then be used as his security deposit? Can I also say It's not refundable if you decide not to take it, but will be if you do move in and then will be used as a security deposit?  Is this legal and a good idea?  I just want to protect myself from holding a place empty for 30 days and then he change his mind.  

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