Quote:
Originally Posted by stomachmonkey
How does paying upfront impact your legal rights to boot their asses if they turn out to be trouble?
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It wouldn't impact the tenant's or landlord's legal rights and/or obligations. If they prove to be trouble, and give the landlord a valid/legal reason to force eviction, all the same rules apply. You certainly couldn't just keep their money though.
However, if they were to damage/trash the place and repair costs were over and above the security deposit, I would certainly deduct whatever additional amount was needed to make the repairs (documentation being key there as well).
If the damage somehow exceeded the pre-paid rent ($25k+?), that would suck, but not as much as if you only had a $2k deposit.
Oh, and one thing I forgot to mention previously: Make all tenants carry renter's insurance. Have them send you a copy of the policy dec. page with you listed as an "interested party" (that way you will be notified if the policy lapses).