Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

Deposits Are Friction, Specials Are Fuel

3 Mar 2026 · 1 min

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In this concise instructional video, the presenter argues that security deposits act as friction that deters prospective tenants, while move‑in specials (e.g., $1 first month or 50% off) serve as fuel that accelerates lease signing. By offering a small discount up front, landlords convert vacant units into revenue‑generating assets immediately, turning a zero‑income month into a full‑rent month and securing ongoing cash flow. The speaker also notes that, in many jurisdictions, lien laws render security deposits unnecessary, reinforcing the strategy of using specials to attract tenants quickly.

Chapters

While deposits are friction, specials are fuel. You want to give the customer a reason to sign the lease right now, not a reason to hesitate and shop around. Instead of asking for a security deposit, offer a move-in special like the classic $1 first month move-in or 50% off first month. This is a conversion tool. A vacant unit earns $0, but a unit with a special earns full rent next— or full rent next month. And every month thereafter. You're trading a small discount today for a long-term revenue stream. Remember, our lien laws make security deposits unnecessary, so focus on getting that customer in the door.