security deposit in installments

[Edith Yuh]

I am moving and renting out my condo ($2700/month) in the San Francisco Bay Area. A prospective applicant asked me prior to viewing the property whether they can pay their security deposit (1.5 rent) in 4 installments because they are just moving from Florida due to visa requirements, and aren't prepared for the high housing costs in the San Francisco Bay Area. I am collecting the 1st month rent at lease signing but they can't afford the security deposit and last month rent (which would have been ideal, but also a lot of money for someone who hasn't been making Bay Area salaries). Should I let them pay in installments? (I haven't sent them an application yet, because not sure whether I should decide this prior to giving them the application, or whether this answer depends on their credit/background check).

First time landlord here, so all related and mildly related advice based on your experience are welcome. Thanks in advance! 

[Nathan Gesner]

I require the security deposit in full, in certified funds (money order or cashiers check), and in 24 hours. No payments.

This guy hasn't even applied yet and he's already telling you it's not affordable. He should have considered the costs before making such a dramatic move.