It's the most common bank near in my area and it just needs a tenant to go to a teller and notify them they are depositing rent.

For example, you buy the place and the tenant could claim the Seller allowed them to paint the walls black or that their security deposit was twice what the Seller claimed.

But it is my experience in 11 years of providing funding that the seller usually will require that you send in your EMD, either by check or a wire deposit to the title company.

First, We now require 2 months deposit and will not sign a lease longer than 4 months.

No, nobody is going to want to put a 2-3% nonrefundable deposit and pay for extensions when they can just put down a refundable deposit and negotiate for extensions later, where they might not have to pay anything to do so.

Tenants using Direct Deposit are paid up 100% Today.

Considering that we would have been in contact with the tenant before that, we would have some idea of their plans.Conversely, if we don't want to renew or accept a tenant as a MTM, then we send them written notice reminding them that their lease terminates on X date, the process for cleaning and final inspection and getting their deposit back.

I luckily will have my earnest money deposit returned because of everything going on.

I find it useful because the format is simple to review, easy to modify and the calculator considers 1) property annual appreciation 2)rental inflation 3)bank deposit int rate 4)general inflation 5) individual marginal income tax rate etc.

Aka return of earnest money deposit.