Potential tenant cannot pay deposit in full

[Elizaveta Dolzhenko]

Hi,

My husband and I are trying to rent out our first property and we came across a potential tenant who would like to pay deposit over the first two months - first half along with first months rent prior to moving in and second half with the second months rent. They are claiming that the place they live in now did not require a deposit, and they still need to pay rent there for this month and this is the reason they don't have enough money for the full deposit upfront.

Is this an immediate red flag or should we consider this tenant if their credit and income looks good?

Thank you,

Lisa

[Steve Babiak]

I say the potential is lacking. No keys without all up-front money paid in cash or money order or certified funds.