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Updated over 4 years ago,
Tenants Did not pay Deposit
I'm taking over a building and leaving the tenants in the space. They are all long term tenants (newest is 2 years). The leases are now month to month. They said they have not given any security deposits or similar. If you were taking over a place, would you now charge your tenants' security deposits? And if so, how would you do this? Slowly over a few months? I'm already planning on raising rents closer to Market rates over the next 2 years, so they will already be getting some increases.