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Updated almost 5 years ago on . Most recent reply

User Stats

12
Posts
4
Votes
Kraig Krueger
  • Chanhassen, MN
4
Votes |
12
Posts

Deposit and first month's rent one month prior to move in?

Kraig Krueger
  • Chanhassen, MN
Posted

I'm renting out my second property, and have a qualified tenant that is ready to sign a lease.  They won't be moving in for a month.  Their lease will start in June.  I was planning to collect the security deposit when they sign the lease this week.  Should I also be collecting the first month's rent, or wait until just before they move in a month from now?  Thank you in advance!

Most Popular Reply

User Stats

433
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283
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Matt Ziegler
  • Rental Property Investor
  • Colorado Springs, CO
283
Votes |
433
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Matt Ziegler
  • Rental Property Investor
  • Colorado Springs, CO
Replied

I would get the deposit now, and not give them keys until they pay first month rent in full. Just before they move in. Unless, they offer to pay rent in advance, then, smile and say thank you!

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