Tenant wants to split paying scurity deposit (lease agreement, security deposit, landlord)

[thxbest]

Our new tenant wants to split for paying the security deposit as follow:

Paying 1/3 amount on the day of moving-in - Sep. 1st.
Paying 2/3 amount 10 days later on Sep. 10

We want to put a clause in the lease agreement for this matter.

How could be the phrases written to protect the landlord?


Thanks for your advise.

[MrRational]

Originally Posted by thxbest

Our new tenant wants to split for paying the security deposit

NOPE. Don't do it.

SD must be paid in full and in advance... NO exceptions.
If you want (need) to be generous... split up the rent.

Why? Unpaid rent is cause for eviction.
Unpaid SD isn't.

[tworent]

Never Never Never hand over the keys until you get all your money. Did I say NEVER

If you have to help them move in, you will have to help them move out.

[pghquest]

If they cant cover the deposit, imagine how they will cover the rent....

1/3rd on the first, 2/3rd the following month, which will push the following months rent back 30 days etc..

[pghquest]

Originally Posted by MrRational

NOPE. Don't do it.

SD must be paid in full and in advance... NO exceptions.
If you want (need) to be generous... split up the rent.

Why? Unpaid rent is cause for eviction.
Unpaid SD isn't.

Fantastic point..

Take the full deposit up fromt, with 1/3rd of the rent, and then 2/3rd of the rent 10 days later..

[brianjb]

Originally Posted by MrRational

NOPE. Don't do it.

SD must be paid in full and in advance... NO exceptions.
If you want (need) to be generous... split up the rent.

Why? Unpaid rent is cause for eviction.
Unpaid SD isn't.

I like that idea

[thxbest]

Thanks a lot to all.

It's a very good advice to NOT split the SD.


When we split the rent, how should we add some good phrases in the lease agreement that protect the landlord?

Can someone give us good examples?

[nightcrawler]

already a red flag.

can you take half the rent now and half later......


red flag

[tworent]

Originally Posted by thxbest

Thanks a lot to all.

It's a very good advice to NOT split the SD.


When we split the rent, how should we add some good phrases in the lease agreement that protect the landlord?

Can someone give us good examples?

Any person that would tell you to split anything is not helping you.
If they do not have the money to move in why do you think they can be responsible to pay rent.

[MrRational]

Originally Posted by thxbest

how should we add some good phrases in the lease agreement...

You don't put anything in the lease beyond acknowledging the SD being paid in full.
(in CASH or guaranteed funds)

The RECEIPT for rent received notes the paid amount and the unpaid balance...
and the tenants agreement to make up that difference by a date certain.

LL accepts 50% of first months rent this day (8/27/2014) IN CASH or guaranteed funds
and will allow occupancy to commence on 9/1/2014 subject to tenant paying balance
no later than 9/10/14. October rent will be paid in full no later than 10/1/2014.