Maybe you ought to go all out and force tenants to pay for housing a year in advance like they do in Dubai and the UAE.
Say the rent is $1200/month. And say you want 6 months security deposit.
Anyone that will pony up $7200, for say, 6 months security deposit, plus an additional $2400 for first and last months rent would need their head examined. That’s nearing $10,000 for move in.
Guess you will be sitting with a lot of unused property.
“Guess you will be sitting with a lot of unused property.”
I believe I read a few years back that around 18 million housing units in the USA are not being lived in.
Note that I wrote:
The freedom of one-unit landlord security deposit setting will be tempered by tenant ability to come up sufficient funds.
Lawyers are already advising landlords to eliminate year long leases and replace them over time with month to month leases.
That has a couple of benefits:
You can keep tenants current on rent—since you can evict them if they don’t pay the next month’s rent.
You can inspect the units before renewing the monthly lease and not renew if the unit is not in good shape.
The government’s “don’t evict” policy will soon start to have the opposite affect. There will be an increase in homelessness with expired leases.