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Use of deposits

Started by Streetva
over 12 years ago
Posts: 6
Member since: Apr 2013
Discussion about
If renting a condo to a foreigner, who could just leave the country and be hard to collect against for unpaid rent and collections costs, does getting a larger deposit help? For example, if there is a six month deposit then the tenant pays each month, and if the tenant started defaulting , then one would initiate eviction, and eventually get the deposit credited as payment for the past due amount owed . Any suggestions ?
Response by huntersburg
over 12 years ago
Posts: 11329
Member since: Nov 2010

Legal or illegal foreigner?

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Response by Streetva
over 12 years ago
Posts: 6
Member since: Apr 2013

Any suggestions

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Response by MAV
over 12 years ago
Posts: 502
Member since: Sep 2007

Yes,it is your security that they will pay. Hence the name "Security deposit"

Take 3 months

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Response by alanhart
over 12 years ago
Posts: 12397
Member since: Feb 2007

In addition, get a written guarantee of payment from their employer, if possible.

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