Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.

@Bob Asad at our bank, we have an escrow account for security deposits, it is set up with sub-accounts for each tenant with their security deposit amount and their SSN.

We completed our due diligence within 10days and once the report came back, we immediately requested our deposit back. 

Just be sure to clarify that she isn’t a leaseholder but is authorized to reside in the unit.If you’re concerned about liability or want more peace of mind, you could ask the primary applicant for additional security, such as a higher deposit, depending on what’s allowed under Colorado law. 

The deposit amount when working with a lender comes from the lender - it is basically the amount of skin the lender wants you to have in the game. 

As a PMC, we allow tenants to:1) Mail in rent (we charge a Processing Fee)2) Deposit at our bank (we charge a Processing Fee, but less than the mailing one)3) Use Zelle, Venmo, etc. 

Our lease contains a clause stating the security deposit cannot be used for the last month's rent. 3.

You will receive the security deposit in Checking but then transfer it to Savings.Savings: Hold the deposit here so it's separate from operating funds.

You can't beat the price, either, or the interest rate on deposits.

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets.