New charge a security deposit again!!
I recently found this new technique and it's very savvy I hope you all can apply it to your businesses.
So say your rent is 1000 and you would normally charge 1250 for a security deposit. This is what you should do differently change the rent to 1100 and no deposit. The average stay for a tenant in my area is 2 years and 6 months. So, for the tenants stay you would make in profit 3000 more. Even if you would have used all of the deposit for damages you would still have 1750 in profit. This is more risk upfront but you continue to have more of a collateral over a longer period of time if need be.
Make sure this is legal in your area as I am located in Nebraska.
Thanks I just wanted to share a nice nugget I learned today for BP nation!!