This is very important on the back end if you have to impose claims against the security deposit (at least in Florida).4) Read your management agreement thoroughly and know the cancelation policy. 

Also collect at least 1 months rent for the security deposit. 

It has been over a year since we stopped working with your company and I still haven’t received my tenants security deposits.

We are passed all contingency periods and are ok with losing the earnest deposit and moving on.

Hi Ryan Biankowski if it were me I would keep my $10k in the bank for holding costs as well as you'll need funds for items you need to put deposits on like cabinets, counters etc.I would find a great deal, use an HML for my first position lender and a PML for the second.

Password Sheet - I create a password sheet for each entityApartments.com - For rent collectionZDeposit - To escrow security deposits.

@Daniel Grimsley sounds like you have a Class C tenant.They are probably planning on saving the rent they owe you to use to move and pay first month's rent + security deposit on a new home.Why didn't you start the eviction process when they didn't pay May rent?

You can look at a deposit insurance that the tenants pay to offset repairs and fights over their deposits. 

Many of us in Illinois hear quite a bit about how easily you can get sued as a landlord related to security deposit handling, thus many shifting to a non-refundable move in fee instead. 

I have actual work to do and don't need 30 days of this.He never paid me the expense deposit in my management agreement and I never pushed on it because I'm always holding enough of his rent at any given time for it not to matter.