Deposits and Other Securities

[Nati Hanuka]

Hello everyone,

For someone who starting his REI journey I would like to hear from other what are the common securities you are requesting from new tenants upon signing on a lease?

Do you request first and last month rent? only one month of security deposit for damages?

Also, I am sure there are rules about it and it may be different by state but I sure want to keep any deposits in a special dedicated account just for those deposits and not mix it with the operating business account. Are there any requirements as to what type of account those deposits must be held? Do tenants entitled to interest payment on that deposit at the end of the lease?

Thanks for any info and your opinion