The rent that the tenant will pay is usually different than what the actual rent is. With that in mind, the tenant will be required to provide a security deposit, and last month’s rent. First month’s rent will be required at signing of the lease. If the tenant does not take possession of the unit, their deposits will be refunded by check mailed to them. Knowing that this maybe a large financial pill to swallow, I will allow the security deposit to be split over a period of 6 months.
The tenant will let me know if they need to split the security deposit across 6 months. I would assume that the high quality residence will make it so the tenant will want to stay in the residence, and will keep up with their end of the bargain. Doing so, will assure that they will meet their needs, and this will include paying into the security deposit. The deposit will be the full 1 month’s rent. Therefore if the residence is $2,500 per month, and your rent is $350 a month, you would be required to provide a security deposit of $2,500.