How much security deposit can I legally charge a tenant?

In Texas, there is no maximum security deposit you can charge. However, for marketability sake, it works well to stay within ranges that tenants are used to.

If I have a well-qualified tenant, I charge one month's rent for the security deposit. I do charge extra for pets, though. I like to do a refundable deposit so people know if they keep it clean, they'll get that money back.

I may adjust the size of the security deposit, though. If someone applies and there are red flags, maybe they have low credit, maybe they don't have a job but they're supposed to find a job soon, or whatever it is, that’s a red flag that raises their risk. You have the right to ask for a larger security deposit.

I have asked people for two months or more for security deposit. Basically, the more security deposit that I'm holding, the safer I feel as a landlord. You also don't need to be afraid to ask for that. If someone has red flags in their history, they'll usually expect that they will be asked for more security deposit, within reason.

If you have any other questions or want to work with us, email me: greg@gregorygrouptx.com.