First and last month rent PLUS 2 month security deposit

4 Replies

A high risk tenant wants to rent my property in Columbus, OH. He is willing to pay first and last month as well as two month security deposit all upfront. I am comfortable with the upfront payment but not sure this is legal. Please advise if I can collect this much upfront. Thanks!

I don't know the legality of it but I urge you to really consider what you are getting yourself into.  We have had an eviction moratorium for over a year and I don't see an end in sight.  Sure the extra deposit is nice to have but how long will it last if they send a CDC Declaration to you and you are stuck for the term of the lease.  Risky tenants know they are risky and often times will try to sway you with money to try to get you to overlook their seedy past, don't fall for the bait.  They have burned people before and likely to do it again, don't let that person be you.  If you feel there is no one better and you absolutely must rent to this person keep it month to month so in an ideal world when the time comes you can evict them for holdover when they stop paying.  The only thing worse than a vacant rental not bringing in income is a occupied rental also not bringing in income but costs money to get the tenant out.  

Generally we get first and last plus security deposit. I would not take a high risk tenant under any circumstances. I had an inherited tenant trash a place two years ago cost 20 grand to get ready for rent.

Originally posted by @Filmon Michael :

A high risk tenant wants to rent my property in Columbus, OH. He is willing to pay first and last month as well as two month security deposit all upfront. I am comfortable with the upfront payment but not sure this is legal. Please advise if I can collect this much upfront. Thanks!

 I would wait to find a better tenant. There are a lot of qualified tenants in Columbus, Ohio right now.