Randy, there is no title insurance to file a claim with, and it doesn't have anything to do with EM deposits.

The PM shows the properties, answers tenants calls, collects the rent, recommends fixes to the owner and deposits the money in the owners bank account.With the combination of the condo association and the PM, there is very little for the owner to do. 

So I figured I would tell my property manager to ask that tenant to pay a deposit.

You will have to deposit more money in your account if the value drops below certain %, otherwise your stocks will be liquidated...so make sure you understand all of your broker's requirements and rules. 

Personally as long as I had a security deposit and they passed my 3x rent, credit check, background, no foreclosures or bankruptcy and references I would rent to them.Personally my niche to rent is to military/veterans.

Thanks to our "get a deposit, collect payments, declare default, rinse and repeat" gurus and operators.I totally agree with the procedure of informing a borrower of the option to provide the DIL, provide a request they can present after default and then, acting on the borrower's request accept a DIL.

She said she has a program that will fund the first months rent and security deposit.

One is that if your estimated expenses for everything is $500 monthly and you actually spend $411 on actual hard costs, the $89 balance would go to deposit in reserve account.

Make sure you know your taxes, otherwise you might get a nasty surprise from the city and county.Make sure you collect a security deposit AND get the guests to authorize you to charge their credit card for extra damages.

Had a tenant through a management company and when she trashed the place she called her father because the manager wasn't going to give the deposit back.