Can I Make Payments on the Security Deposit?

I don’t like having vacancies at this time of year but sometimes it happens that way so we have been getting a few homes ready this past month and interviewing potential tenants. Unfortunately this time of year we have a lot less candidates than we have in the summer and many of them are far less solid candidates than those we see in the summer as well.

After painstakingly checking all of the references and backgrounds of our best candidates for two homes, we offered them the homes. 

Both were very pleased and wanted to move in right away.

Then they both asked similar questions that I never want to hear.

“Can you wait until next Friday for the first month’s rent and then let us make payments on the deposit?”

I told them that this never works out well and that they would have to come up with the money elsewhere.

If they did not have a friend or relative who would trust them enough to loan them the money until they got their other deposit back then why would they expect me to trust them.

Luckily one of the parties came up with the money right away and will be moving in Friday, and the other party will be letting me know by tomorrow if they can come up with the money.