Quote:
Originally Posted by look 171
Daniel, no not my first rodeo. My biggest concern is accepting the large amount and wonder if that can come back to bite me in the ass later should things go south.
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As mentioned, just structure/document the least to specify that the additional rent is being submitted voluntarily, and is not a condition/requirement.
Just write it up as you normally would with first + security + pet/cleaning fees, and then add an addendum addressing the additional/advance rent. Probably a good idea to request (and photo-copy) separate checks as well.
The only thing that could really bite you is if you didn't clarify what the additional rent monies were for. You just want to be sure there are no vagaries, or any way that the additional rent could be interpreted as part of the security (or any) deposit. Easy enough.
Also, if you haven't already, it would be wise to set up a separate landlord trust account for any/all deposits and rent from your tenants. You can co-mingle funds from other tenants, you just don't want to co-mingle
your money with theirs.