6 months tenant = half deposit?

Question

I have a potential tenant who wants to lease for 6months instead of 1 year, my standard lease.

I said the deposit is 1 month rent for 1 year. Now the potential is asking to drop the deposit by 50% (only half a month), because he wants to lease for 6 months. Is it fair???

Bill S. · Answer

No way no how. Also the fact that they're trying to "negotiate" with me is a mark against him. I want tenants that follow the rules and are not always looking for a way around them.

Travis Sperr · Answer

Why not wait for a 12 mo+ tenant?

two problems other than the deposit:

You wont want to fill a vacancy in September.

If you lose a month in the transition and pay some to do any work or find a tenant you are likely blowing a few months of cash flow.

Patrick L. · Answer

I've had tenants do more damage in 3 months than I could do to a house in 10 years.  Don't lower your move in amount.   Also, why rent to a tenant only planning on staying for 6 months? I would rather find someone planning on staying long term so I don't have extra vacancies to deal with.

Zach Zepp · Answer

Nope.  Stick with the full deposit.  A person can do the same amount of damage to your property in six months as they could in a year.

Kimberly T. · Answer

I believe we are not allowed to collect "last" month's rent as landlords in CA.

I agree with others, definitely get the full security deposit.

Elizabeth Colegrove · Answer

@Marc Dufour

6 months lease are "premiums". This tenant's "philosophy" would be huge "red" flags. I personally would never sign a 6 month lease unless it was a terrible time to rent, and it was good for me!

Steve L. · Answer

I would not rent a house for 6-months to anyone.  Keep waiting.

Jimmy S. · Answer

I would still get first, last and a full security upfront.

Gautam Venkatesan · Answer

In addition to the good responses you have already received I would suggest you charge a higher monthly rent if you decide to lease for 6 months (plus 1 months deposit as already stated) instead of waiting for a suitable applicant for 12 month lease because you will have cleaning/releasing expenses at a minimum when the 6 month lease is up.

Jon Holdman · Answer

No way. Full deposit regardless of lease length.   Full deposit plus one full months rent in cash or money order at move in/lease signing.

6 months tenant = half deposit?

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