Security Deposit for tenant with low credit scores : ezLandlordForms

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Security Deposit for tenant with low credit scores

Lori B

started a topic over 5 years ago

Can I request a larger securit deposit for my rental home if my potential tenant has a poor credit score and has limited job tenure?

4 Comments

Matthew M

said over 5 years ago

Of course

Amber P

said about 5 years ago

you can but check the law. In NC the largest amt of a security deposit you can require is 2x the rent, I believe.

Tommy R

said about 5 years ago

Yes, you can ask for a higher security deposit to the tenant with a low credit score. If the tenant damages the property and refuses to repair, you can keep a part of the security deposit. Also, if the tenant skips a monthly rent or terminates the lease without prior notice, the landlord can hold the security deposit to prepare for tenant turnover. But check all the landlord-tenant laws in your state before asking for higher security deposit.

Darlene D

said about 5 years ago

There are state tenant/landlord laws you have to follow period and are very strict if you violate them. In my experience, you can only charge 1.5-2 x the rent for the "Security Deposit" that does not include Pet deposits, Cleaning fees or Credit report fee.