Should my Security Deposit Amount = 1 Months Rent

[Kenneth Garrett]

I have a bit of a different philosophy. I never charge one month’s rent = to the security deposit. I do not want a tenant to think the security deposit is intended to cover the last month’s rent so I make it a different amount. Otherwise they leave and don’t pay the last month’s rent and then there is no money left for repairs.

I also stipulate in the lease, the security deposit does not cover your last month’s rent, it is specifically intended for repairs to the unit and balance returned to the tenant.

If rent is $2000, I would charge $1950. I’ve never had a tenant leave without paying the last month’s rent. Of course security deposits must comply with state, county and or city laws.

How are other landlords protecting yourself against a tenant using the security deposit for the last month’s rent?

[Bo Smith]

Smart move on the different amounts - that psychology works. I also require 60-day written notice for move-outs so I can collect final rent if they ghost. Do you require written notice or just verbal?