Incresing rent on rewnal but prepaid last and security?
Tenant lease is expires and have pre paid last month rent and security deposit up front. Do you collect the difference at renewal to add up to 1 full month security and 1 full "last month rent or do you let them slide?
Example
Current rent 1000
Current Security 1000
Current Last month rent 1000
*** New rent price 1050
Do you collect the remaining 50 for the security and 50 for last month rent? first month of renewal payment would be 1150 for the first month (or I can give them 30 days to get the remaining 100)? I would strongly like to but wanted to see how others do it.