I would require a pet deposit.

You make them pay for their upgrades as part of their initial deposit and you itemize them as part of their contract price.  

I have done where we rented the property for a 12 month lease and they paid a higher amount for 9 months and then a lower amount for the 3 months they went back home and the unit stayed as is "primarily storage where they didn't have to move out"  that saved on turnover.You may experience a higher turnover and make sure you secure a higher security deposit for damages.  

Next to that column are columns for operating income, non-operating income, deposit activity, deposit balance, operating disbursements, management fees, beginning balance, current activity, and current balance. 

Would you ask for a security deposit? 

And provide the applicstion fee as discount from security deposit only if accepted?

i often will ask a higher deposit of someone if there is an issue on their app i am not totally happy with just to guard against potential issues in the future.

but keep going YOu may talk to a bank about setting up a loan against your deposits but ONLY if this is going to lead to bigger and better things.I had a broker in Charleston last week tell me he would lend me money if I used my securities as collateral at 50%  and they would only charge 8%...

I was sorry to see her leave the unit however it was a very small two bedroom apartment and I understood her reason for leaving.I hold deposits for 45 days to make sure as I transition from one tenant to the next that the unit is truly in good condition and to ensure there are no outstanding water bills with Columbia City Utilities.

And also, to Jon's post, I had a friend lose his earnest money deposit because his real estate agent wrote the offer as "cash" when it was financed through hard money.