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.

Additionally, you could also consider charging a higher security deposit in the case that you have to do any extensive cleaning of the property following their move-out. 

And just like with the others above there are some good deductions you should be taking advantage of here as well.S-CorpW2 income – that’s easy, you probably understood that your W2 income can be added BACKK-1 income (box 1 & 2) – also pretty self-explanatory, but just in case, it’s added BACKAmortization/Casualty Loss – Added BACKDepreciation 1120s (line 14 & 15) – Added BackHowever….Mortgage Notes, bonds payable in less than 1 year (Schedule L, line 17)- this is SUBTRACTED from your incomeMeals & Entertainment (Schedule M1, Line 3b) – SUBTRACTED from your incomeNon re-occurring Other Income (1120s line 5) – SUBTRACTED from your incomePartnershipsW2, K1 (box 1,2, & 4), Depreciation, Amortization/Casualty Loss – all added BACKNon re-occurring Other Income, Meals and Entertainment, Mortgage Notes payable in less than 1 year, AND Ordinary income from Other (1065 line 4) – all SUBTRACTED from your income*WHEW* What a lot of information and we could probably spend ENDLESS amounts of time on this subject.

The rent guarantee was never deposited without several reminders that it was past due.In May 2018, ABC told us that the house was almost done, and we could hire a licensed Home Inspector to inspect the home.