You will also want to draft a comprehensive lease agreement that outlines terms such as rent amount, due dates, security deposit, maintenance responsibilities, and any house rules.

All legal rights pursuant to the Rental Agreement, including return of any Damage or Security Deposit(s) are assigned to the Incoming Resident and remaining residents.

I, like many others in this business, have been scammed out of thousands of dollars before, so please before you judge us for raising a red flag, please understand it comes from a place of protecting our businesses, the ways we provide for our family and secure our futures.

This strategy has allowed me to save on closing costs, secure favorable financing terms, and refinance almost immediately, all while minimizing my down payment.

It's a false sense of security anyway and could save you money in the long run.

I was able to partner with my parents to secure funding for the down payment via their HELOC.

To secure the loan.

I was able to partner with my parents to secure funding for the down payment via their HELOC.

He is asking about the security deposit.   

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.