Security deposit and last months rent

[Denise Sanford]

I live in Sanford Florida

How do you determine what to charge for a security deposit?

Do most landlords collect the last months rent?

I’m planning on renting my main residence and new to all of this, you’re help will be appreciated.

[Jose L Torres]

Depending on your property I would advise you asking for First, Last and Deposit. Each in the amount of the monthly rent.

I had a situation where I had a tenant that I only asked for first and security deposit, on a high-end home.  He left without paying the last month rent.  There were repairs in the amount of $1650 that I had to do to the house in order to reset it for sale. To claim the deposit you have to write certified letters to the old tenant and try to collect and also inform them that you will use the security deposit money for the repairs.  My tenant never accepted the certified mail letters.

So going forward my mode of operation is to ask for all three: first, last, and a security deposit.