Landlord Question and Answer Forum
Can I request a larger securit deposit for my rental home if my potential tenant has a poor credit score and has limited job tenure?
Lori B, NC on Thursday, June 27, 2019
RE: Security Deposit for tenant with low credit scores
Of course
Posted by
Matthew M, IL
on
Monday, August 5, 2019
RE: Security Deposit for tenant with low credit scores
you can but check the law. In NC the largest amt of a security deposit you can require is 2x the rent, I believe.
Posted by
amber p, MO
on
Friday, September 27, 2019
RE: Security Deposit for tenant with low credit scores
Yes, you can ask for a higher security deposit to the tenant with a low credit score. If the tenant damages the property and refuses to repair, you can keep a part of the security deposit. Also, if the tenant skips a monthly rent or terminates the lease without prior notice, the landlord can hold the security deposit to prepare for tenant turnover. But check all the landlord-tenant laws in your state before asking for higher security deposit.
Posted by
Tommy r, NY
on
Wednesday, October 2, 2019
RE: Security Deposit for tenant with low credit scores
There are state tenant/landlord laws you have to follow period and are very strict if you violate them. In my experience, you can only charge 1.5-2 x the rent for the "Security Deposit" that does not include Pet deposits, Cleaning fees or Credit report fee.
Posted by
Darlene D, AZ
on
Tuesday, November 12, 2019
Author:
Elizabeth G, TX
Updated:
04/03/2019
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Rhonda D, PA
Updated:
04/07/2016
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Jason D, FL
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12/27/2011
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PASunrise P, NJ
Updated:
04/03/2019
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Michae&Megan B, IL
Updated:
04/18/2016
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