Security Deposit
Categories: Company Management
You really should have made an angry Drake put down a bigger number for his rental's security deposit. His one-bedroom was $2,000 a month; he put down $6,000 as his security deposit, i.e. 3 months' rent. You thought it'd be way more than enough.
But after the Raptors lost the series, Drake went nuts and destroyed his hotel room, and the damage was more like $25,000. You'll sue him for the dough if you have to. But you revisit your security deposit policy, wanting more upfront in the future...and if things go well, and there's no damage, then no big. The depositors get their money back.
