The security deposit is approximately 10% of total repairs so it won't cover most of the damages.

The local store may have a limited selection but you can find more sizes and options on their website.The tenant may very well trash them, but they are inexpensive and can easily be replaced with the deposit.

But if you had a deposit you'd take better care because you want your deposit back.

Hi Everyone,     I am aware Colorado law prevents landlords from charging the tenant's security deposit for the time the landlord spends on repairs (though they can charge materials).

I have no responsibilities - other than reading regular reports and (hopefully) depositing checks. 

Banks and credit unions are having to offer very high cd's etc. to get deposits in the banks.

Rent is due Sept 1, it is odd for tenants to pay well in advance (unless they paid last month's rent with the deposit).4 weeks is enough to find a new place especially if they get started now and as they have one month's rent to use as a deposit for the new place.

I have had a number of questions (how to handle land contract payments, how to set up security deposit refunds, etc.) and between their online support and responses to my questions via email, I have yet to run into a situation I couldn't address. 

.- Im thinking of not charging security deposit because of all the strict MA laws and just using the last months rent as a sort of security deposit, thoughts?

If there are large deposits the underwriter will ask for a signed letter of explanation from the borrower along with supporting documents.