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When you enter into any financial agreement with another person, this is a risk you take.
Refer to your lease and identify what you become responsible for if he defaults. This should be your only concern. In this case, it appears it would be the $150 in rent.
The sole purpose of the deposit is good faith money to 1)cover any cleanup costs or 2) provide some compensation to the landlord should you break the lease or not pay up.
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Calling from deep in the heart, from where the eyes can't see and the ears can't hear, from where the mountain trails end and only love can go... ~~~ Three Rivers Hare Krishna
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