Security Deposit for inherited tenants

[Cory Benhardt]

Hi BP, if you inherited a tenant & their lease was up & you gave them an option to renew but at current market rents, would you increase their security deposit to reflect the new market rent or keep the security deposit at the same amount that it was when they signed their original lease with the previous owner?

Thanks 

[Dave Poeppelmeier]

I typically don't. You're getting more in rent per month, so if you want to take that first couple months extra and sock it away for just in case, I would do that. No sense in creating unnecessary animosity between you and your renters.