Is it common to charge a deposit?

We have had several renters and lot only renters simply leave without paying last months rent (or even notifying us), so the logical answer is to start charging a deposit to new renters.

Just wanted to get an idea of how common this is.

In addition, we will have a mailbox key deposit of $25 and a non-refundable pet deposit of $200 for rentals and $25/mo in case the pet tears up the place (typical I assume).

On rentals, I always do. One month security generally keeps people reasonable and weeds out renters that don’t have the money to move in. On lot renters, I’ve never bothered. The home is worth many multiple times the lot rent, if they’re going to walk away from that they’ll walk away from the $400 deposit too.


Plan is to charge first and last month’s rent. $800 x 2.

Is it common to also have a $300 cleaning deposit on top of that?

This is a pretty low-end park, but this is the old managers home which is considerably nicer than the other rentals ($535/mo)

On park home rentals I always would charge 1st and last months rent plus a security deposit. (Plus pet security deposit and pet rent)

On lot rentals, I always charge the first month rent plus a security deposit equal to the lot rent. This is because the tenants pay their water and sewer directly and would never think twice about moving out and sticking me with the balance owed on the water or sewer.

I do move in fees vs deposits. Essentially the same but it’s non refundable. These are common in the apartment space (at least regionally), and I do this on all 820+ units.

I have had the same problem with people giving little to no notice and not paying their last month. I did require a security deposit for new tenants (ones I didn’t inherit). I think lately with the rental situation in my area they don’t really know 30 days ahead when they will move, when they can get a rental they just go with it. So I am making the deposit equal to a month’s rent now. (I had it lower as I figured that limited my audience).

However, I have not added Last month rent to the upfront requirement. I would limit my audience quite a bit. Most of the people that live in the city for a while are just in shock how much the rents are going up so for me to ask 1st and last plus a security deposit they would be beside themselves (I think).

The owner before me used a non-refundable move in fee. But then the tenant has no incentive to keep the place nice and after putting so much into repairing these (sad) homes I really want to maximize my chances of the tenant keeping it nice. (I only have park owned homes)

I only have lot rentals and I charge $100 for a security deposit.

We always charge a deposit on lot and home rentals. However, we have been considering lumping the deposit into a nonrefundable initial home fee. That way, we would not need to have an escrow account to keep the deposit separate.