Additional security deposit in the middle of lease term?

Additional security deposit in the middle of lease term?

Investor · Atlanta, GA · Member since 2010 · 186 posts · 14 votes

A tenant failed to pay a rent in Jan, and since then all our collection efforts were failed (he made all the executed, promises were broken and phone called were ignored etc.).  An eviction proceeding was initiated, and after we got a court judgment and just before kicking him out, the tenant all of sudden showed up at my management company's office and finally made all the payments owed to me.  

The problem is I do not trust this tenant any longer and anticipate that he will miss a payment soon and that we will have to do the eviction again.

My question is whether I as a landlord can ask for an additional security depost (about month rent?) to protect my interest from this tenant in the middle of term of lease because of recent eviction incidents.  The lease agreement is silent on whether I can do that.

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  • Real Estate Agent · Odenton, MD · Member since 2016 · 35 posts · 5 votes
    10y

    Cant change an existing lease.   Better off if the lease was defaulted, and not accept payment of you wanted to rid thosetenants. 

  • Residential Real Estate Broker · Chicago Suburbs, IL · Member since 2013 · 1k+ posts · 594 votes
    10y

    I am not a lawyer but u can change the lease midterm if the tenant signs off on the change. But why do u want a tenant with a recent eviction?

  • Rental Property Investor · Rochester, NY · Member since 2014 · 55 posts · 21 votes
    10y

    What provisions for lease termination do you have in your lease 30 days written notice is a common one. Tenant may have just been sing what he could get away with you may have no issues collecting rent.

  • Investor · Atlanta, GA · Member since 2010 · 186 posts · 14 votes
    10y

    Thank you all for the comments.  I already accepted three months of rent so I have no choice but to continue to work with the tenant.    

    The lease says I have to give 60 days prior notice and pay a termination fee of one month rent. So, if I give a 60 days early termination notice, the tenant probably will stop paying the rent then. 

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