For the security deposit, I will set a 6 month payment plan. The reason for this is being on someone that lives the poverty line is, I know how hard it would be to come up with all of the money at one. Let’s consider a $1,000 rent. Yes, I know – many apartments will likely be more than $1,000 which will only stress the reason for a 6 month payment plan. My option is $1,000 all at once, or $167/month for 6 months. Being as someone who only receives a little more than $1,000 per month, I know how hard it would be to acquire $1,000 all at one time. However, I can tighten my belt a little bit for 6 months to pay the payment plan, and all without having to place it on a credit card.
Now some people may question about if someone will pay the payment plan. This is where a good judge of character will come into place. There will also be a background check, and a request to contact the current landlord to ask about them. However, even so – all of the apartments will be designed in a way to well exceed Section-8’s minimum requirements. This will mean that it might be just as likely that a tenant will want to do the right thing to stay in the residence rather than risking it because they don’t want to do what is the right thing to do.