security deposit & first month's rent : ezLandlordForms

D

Desi 1

started a topic over 15 years ago

my tenants are moving in on the 25th of july and i have scheduled the lease signing and walk-through of my house on the 19th. At what point (date) do I obtain the security deposit and first month's rent from them (when I say first month's rent, I am including the pro-rated rent for the remainder of July also, in addition to the entire rent for August)?

a

Angela S

said about 15 years ago

I need a security deposit and first month rent form so my applicatent could take it in for assistance

D

Donna

said over 15 years ago

Rule of thumb: Collect all that is due on or before lease signing! When I have a pro rated rent situation, I usually ask for that as well as the first months rent in advance. There are no steadfast rules in this though. Some landlords will collect the full months rent in advance (Aug) and have the tenant pay the pro-rate on Aug 1. Or collect everything but the prorated rent and have that due on Aug first. If you have done the due diligence and are comfortable that the tenant will pay; use your discretion.

D

Donna

said over 15 years ago

Rule of thumb: Collect all that is due on or before lease signing! When I have a pro rated rent situation, I usually ask for that as well as the first months rent in advance. There are no steadfast rules in this though. Some landlords will collect the full months rent in advance (Aug) and have the tenant pay the pro-rate on Aug 1. Or collect everything but the prorated rent and have that due on Aug first. If you have done the due diligence and are comfortable that the tenant will pay; use your discretion.