Security deposit on credit card?

7 Replies

Does anyone accept credit card security deposits?

NO - chargeback risk. There is an existing thread on accepting rent via credit card that you should search for and read.

Security deposit plus one full months rent in cash or money order ONLY!!!

Jon Holdman, Flying Phoenix LLC

I completely agree with the others. As @Jon Holdman mentioned, if they can't provide cash/money order for deposit and 1st months rent, then I don't even consider signing a lease.

If they want to pay the deposit on CC, then you might as well call up your lawyer and have them prepare the paperwork for eviction because it'll be eminent if you take on that tenant.

Medium logoMichael Seeker MBA, Renting502 | | Podcast Guest on Show #94

No! As others stated, you want it in cash, cashier's check, or money order only. Big red flag - they haven't saved up the money needed to move when they were planning to move. What are they going to do when they have an unexpected expense while they're a tenant? Short answer: screw you.

Is the rental in Wisconsin? I thought all the tenants from Wisconsin were great. Two of the best tenants we've ever had were from Wisconsin, we were starting to wonder if they were all that good. :)

Now in defense of good tenants. I know some that put everything on CC for the cash back and airline miles. That said, No go for either rent or SD on a CC.

Medium rre 1to1 small sizeBill S., Reliant Real Estate, Inc. | 720 207‑8190