A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

They can't afford the double deposit, indicating they live on the edge at the moment.

Most lawsuits against landlords involve wrongful eviction, security deposit disputes, and Fair Housing Violations.

LOL.There are endless amenities to choose from so if you don't have a pool/spa/view, you can certainly provide many others that guests will enjoy!

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

My buddy sold for ~$500k over its existing use value and no contingencies and did not even convey existing tenant’s deposit.  

Separate accounts per property incurs a lot of overhead, such as minimum balances or fees for missing the minimum.I use separate accounts for each tenant's security deposits.

I do not recommend paying any upfront fees, unless it's with a large bank that typically requires a good faith deposit on larger transactions.