I would increase their deposit by that amount to ensure you have enough to cover an empty tank and a month of lost rent.

For many owners, this is a win.Other owners may value the consistent monthly deposits rather than worrying about the usually seasonal STR incomes. 

Some allow cash, most require the 10% deposit to be paid with a certified check made out to the referee but there is no verification of funds.

I'll have to check and see if I need attorney or not, does anyone know if the building is in an LLC and I am a member, can do pro se in Dupage County?

@Chris SeveneyYesAllOf those things, just don’t forget to have receipts for everything you deduct from the security deposit.

Once approved, how fast does your policy dictate that they have to give you a deposit? 

The thing I like best is the interest is deposited in my  account every month.

Here’s what to keep in mind:Between LLCs: Use formal loans or inter-company agreements to transfer funds, ensuring documentation to avoid co-mingling issues that could affect liability protection.Personal to LLC: Deposit personal funds as a capital contribution or loan to the LLC.

Your property listing can also be a great way to lay out qualifying criteria (i.e credit score minimum, and require a co-signer if lower).After conducting due diligence into a particular tenants situation, and you decided to proceed with an application approval, you could require a higher security deposit. 

However, I have apparently missed the deadline to submit a deposit and I'm kicking myself pretty hard right now haha.Anyways, I'm curious if anyone out there is already registered for the Wayne County Auctions.