If you can bring value by taking the showings nobody wants, that are in time slots people don't want to work it'll be like pouring rocket fuel on your education.

Their entire deposit was used for damages. 

If you get written permission from the owner, then perhaps; but if I was the seller I'd want a higher deposit in case you destroyed the house and then bailed on closing.

I would collect a security deposit and first and last months rent as a rule. 

@Matt Darak Some apartment complexes have a policy allowing tenants to pay a fee to terminate their contract...2 months rent or one month and the deposit

I am currently in the process of setting up escrow accounts for the security deposits for my tenants.

One thing you might add to your list of "to do's" is create a "Walk Through Form" for the tenant to sign when you give them possession so down the road there are no disagreements over the condition of the property when it is time to disperse their security deposits when they eventually move out. 

Having a non-refundable deposit helps if someone backs out last minute so you can cover those costs. 

When your friend told you that Wells Fargo asked her for a $1,000,000 deposit into a Wells Fargo checking account in exchange for doing her jumbo refinance, that's what we're talking about when we say "general ease of availability" -- asking someone for a $1,000,000 deposit to do their refi would be NOT "generally easy and available" for most people (lol).It is not yet captured in any publicly facing data, but I'm seeing indications that jumbo may right now be turning the other direction.https://www.mba.org/news-resea...

In the lease I must receive written notice of their intention le by september 1, it was to be accompanied by a 10% deposit, half of which was refundable.