What is the name of your state (only U.S. law)? Indiana
I agreed for my tenants to pay their security deposit in three payments for the first three months. (Bad idea and I know it now!) The tentants were late (rent & sd) on the first month of lease and were charged the appointed late fee. It is now the second month and they paid their rent on time but still have not paid the security deposit that was due in Sept. They emailed me and stated that I would not receive the payment until mid October. Note: They have the last installment due in Oct. It is now Oct 1st and I think it is unlikely I will receive the payment for Octobers now.
What are my rights as a landlord? Can I charge them the late fee for not getting the security dep in time? Can I threaten eviction and proceed that way? Are these payments liable just like rent? In the lease it states the month security deposit is due and the total payment amount of both that "is rent for those said months".