So I did offer this tenant a full refund of their security deposit and ability to break the lease.

Hello!
Why are people paying these prices!?  They have been for years!  Numbers don't pencil out for a 30 year mortgage, but property still sells!  If the buyers are cash buyers why don't they just put their money in...

But now he is staying so we decided to play the cat card, and told him that per his lease pets not allowed and if he would like to keep it we will need to amend his lease to include additional $100 pet rent plus collect additional security deposit.

Hi Babu,A simple rental property balance sheet will have the following accounts:Assets: Cash, tax and insurance escrow, fixed assets and depreciationLiabilities: Credit cards, security deposits, and loansEquity: Opening balance equity, owner's contributions/distributions, retained earnings and net incomeThere could be a number of reasons that your balance sheet does not balance.

We also require initial payments to be made in good funds for rent and security deposit, which helps to solve a lot of the asset verification.

If they damage the place, that is what the security deposit and if necessary, the court system are for.

It “sounds” like you want to lend someone money for an earnest money deposit to make an offer on a property?

I find that a lot of my bookkeeping clients do not save money for taxes, repair or event those security deposits. 

Proceeds should be deposited directly to IRA4.

I have signed a lease and transferred payment of 1st month's rent and security deposit to the landlord.