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

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.

Did you collect a pet deposit?

Large deposits are nice, but very difficult to actually get access to escrow funds in the event of default.

Think of 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.

I don't rent furnished and others may be able to point out where this is flawed, but I would consider renting the furniture SEPARATE of the unit because that may allow you to collect a deposit on the furniture.

If you’re not well-versed in lease agreements, security deposit rules, or eviction procedures, you could run into trouble.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.

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. 

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.