Make sure you know every single law like notice periods, security deposits, screening/discrimination laws, support animals and so on.

For example, I often see Buyers purchase property thinking there is a $1,000 deposit but then the tenant claims it was $2,000 because they paid the last month's rent.

Security deposit is not enough to cover the turnover and back rent.

Run the payments through any automatic money handling source.Escrow account, checking account, auto deposits work great.

In addition to this what else can I do to protect myself and ensure that they don't take anything more than is required from that security deposit?

@Yusuke Koike if damage was that extensive where the unit is not habitable, check your state/local landlord tenant laws as some just require you let them out of lease, return deposit and refund rent for any time they’ve paid that they can’t live there.

This happened to me with a contractor who I paid a materials deposit to and he kept delaying so I told him to pay me the money back which he didn’t have.

Hello Every,I am currently in the process of buying a property and was told by the selling agent that the current tenant has violated their current lease by having pets and not putting down a deposit.

A PM robbed me and my partner of $40K, including two months rent and security deposit.

It's no small feat for these people to raise application fees, security deposits and moving expenses.