You have 30 days to return the deposit.

That'll leave it in their mind that they can say goodbye to the $800-ish deposit if they choose to smoke inside, plus get a bill.

I'm nitpicking at this point but you'll run into different laws about the amount you can take as a security deposit, if you can legally ask for first/last months rent and a security deposit, etc.

You can charge more for pets as well, and if so be sure to increase the security deposit.

If they move in on a day other than the first, I still collect one full month's rent plus deposit before they move in. 

All contracts are signed, and escrow has been opened with earnest money deposit ($3,000 from assignee).

All contracts are signed, and escrow has been opened with earnest money deposit ($3,000 from assignee).

My inclination is to refund her within 30 days after the moveout date but she is citing that that is illegal in TX as prepaid rent can't be used as a security deposit.

fastforward to present day there is a first position lien of credit for 1-4 unit non owner properties up to 70% if thats what you're looking for max 6 financed properties up to 1 Million loan amount max 250k cash out.This is an all in one or AIO loan that acts like a line of credit and at closing you're given a checking account that sweeps any funds or deposits in the account and applies it to principal first on your loan balance nightly.Interest is accrued daily based on a 365 daily basis on rate % / 365 days but not charged to the line till the 20th/21st day on the following month akin to a grace period meanwhile all deposits swept over nightly are applied to principal first.if you have questions on the product or how to utilize it your investing strategy let me know.

@Elizabeth Wilson  EM= Earnest Money Deposit  ....