Do you collect a tenant security deposit?

Collecting a Tenant Security Deposit

Yes, every time. A security deposit helps cushion you against the financial strain of a negligent or careless tenant.

The security deposit amount is equivalent to the first month’s. We won’t allow a tenant possession of a property until the security deposit and first month’s rent are paid.

In Washington, security deposits must be held in Trust Accounts. We hold the funds in Trust until the tenant moves out. We’ll then refund it to the tenant minus any damage exceeding normal wear and tear.