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Forum / State Landlord Tenant Law / When to collect the security Deposit

Hi, I have a question related to the timeline as when to collect the security deposit. My tenants are moving in after 2 weeks, but signing the lease now. Can I collect the security deposit now, 2 weeks in advance since we are signing a contract? Or if there is a law which states the timeline. Thanks, Shai

SHAILENDRA D, MN on Friday, January 15, 2016

RE: When to collect the security Deposit

Hello, At the signing is the most common time to receive the security deposit. Some landlords will collect the security deposit, first months rent and last months rent at the signing of the lease. All depends on the landlord. Good luck!

Posted by Bill F, MS on Friday, January 15, 2016

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