Why Sarasota Property Managers Must Collect Deposits Up Front
First, it would be imprudent to pull a property off of the market, thus loosing out on potential renters, without knowing with absolute certainty that money is in hand. Imagine writing up a lease without a deposit and then three weeks later the would-be tenant fails to show up for the scheduled move-in. Without a deposit, the property manager has no recourse and the owner has wasted three weeks and lost income. Had there been a deposit, the likelihood of a no-show tenant would have been greatly decreased, and had there been a no-show, the security deposit could have been withheld to offset expenses and lost rent.
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Tenants sometimes want to know if they can move in and then pay the security deposit over time — the answer is no. The reason is the same as the above — once the tenant is in, they are in, and the promise to pay the security deposit over time is as worthless as the paper it is written on.
At Real Property Management of Sarasota & Manatee our policy is simple — if you can’t afford the deposit to move in, then you can’t afford to live in the property. End of story. No further discussion needed. These, among others, are the reasons why Sarasota property managers must collect security deposits up front.
If you are a property owner desirous of working with a top professional team that will protect you by ensuring that your interests come first, please contact Real Property Management of Sarasota & Manatee at 941-225-8183.