A renter wants my condo but his current lease is up 8/31; do I accept his security deposit now?

Question

My realtor tried to encourage him to move in at least a week prior to his lease being up, but he doesn't want to double pay for even that last week of August.

If I accept his deposit now, my realtor would have to show it as 'rented' (no longer 'for rent').

If we tell him that he can wait to put a deposit on it until (for example) August 15th, then we can still keep it listed for rent; BUT, we may lose him as a potential renter if he changes his mind.

Answer 1

This is a lousy deal for you.  Deposits in real estate are always fully refundable unless both parties agree that they are nonrefundable.  That is what you need.  A big big nonrefundable deposit.  And you write "Nonrefundable for any reason" and get the new tenant to sign it.  If he pays, he was the excellent tenant you dreamed of.  If he refuses, you already know what was going to happen. He was going to mess you up.

Answer 2

Accept the deposit, with a prorated non refundable part to cover your loss of income

Answer 3

take the deposit. would you rather rent to him when he is homeless?