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🎰 Is it typical to pay first and last months rent plus a security deposit? : personalfinance

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You want the tenant to pay first month's rent and a deposit to cover damage and any unpaid rent should the tenant abruptly leave before the lease expires. Instead of calling that deposit "last month's rent", which would force you to pay for any cleaning or repairs at the end of the lease, you should simply call it a security deposit.
But landlords may also ask for a security deposit and request that you pay your last month's rent before agreeing to rent to you. A security deposit is usually equal to one month's worth of rent.
I'm looking into renting my first apartment and the real estate agent I talked to said that in order to move in I must pay up front the first and last months rent plus a security deposit equal to the rent, so three times the rent just to move in.

In Massachusetts, a landlord can request first and last month’s rent, a security deposit in the amount no greater than one month’s rent, and a change in lock fee. No other fees can be charged, including application fees or a pet deposit. Landlord’s MUST give Tenants a Receipt.
Expect to pay the first month's rent, and possibly the last month's as well, to your landlord at lease signing.This may seem like much money up front, but remember that your lease is starting, and so you need to begin paying your monthly rent anyway.
But landlords may also ask for a security deposit and request that you pay your last month's rent before agreeing to rent to you. A security deposit is usually equal to one month's worth of rent.
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Is it legal for a landlord to ask for first and last months rent and a security deposit? First and last months rent plus deposit

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What does paying the last month's rent mean?. Is it legal to ask for a full months rent for security deposit plus first and last in Massachusetts? Yes. Massachusetts law allows a landlord to.
This means that once your application is approved, you'll need to pay your first and last month's rent and a security deposit.You may get your security deposit back when you terminate your lease, assuming you've met all the conditions in the lease and haven't damaged your apartment.
If you don’t feel comfortable letting him or her move in, then you can provide a pay or quit notice. If they don’t pay first month’s rent, you do not need to provide keys to move in. This is why it’s crucial your lease states that first month’s rent and the security deposit are to be collected before move-in.

starburst-pokieThe Difference Between Last Month's Rent and a Security Deposit - FindLaw First and last months rent plus deposit

Collect a Larger Deposit Instead of Last Month's Rent First and last months rent plus deposit

What does paying the last month's rent mean?. Is it legal to ask for a full months rent for security deposit plus first and last in Massachusetts? Yes. Massachusetts law allows a landlord to.
Cannot request deposits based on rules and procedures used in other areas (for example, landlords can’t ask for “first and last month’s rent” or “key money”) Cannot increase the amount of a deposit with a rent increase; Cannot automatically keep all or part of the deposit at the end of the tenancy; Tenants:
I have 1 rental and normally ask for first month rent ($830) plus a deposit ($500).seems like renters just move out after the lease is over and treat I have 1 rental and normally ask for first month rent ($830) plus a deposit ($500).seems like renters just move out after the lease is over and treat

First and last months rent plus depositcasinobonus

You have found the perfect apartment or house to rent and are ready to sign the lease agreement.
Before you do, make sure you carefully read it over, especially the section relating to the required security deposit.
A security deposit can take a pretty large bite out of your wallet, so being educated on what rental agreements are allowed to stipulate is critical.
What is a Security Deposit?
The security deposit is a protection for the landlord, and it will be used in the event that you do not pay your rent upon moving out or you cause damage in the first and last months rent plus deposit unit.
When Can the Landlord Charge My Security Deposit?
Some landlords will give you permission to do this; perhaps if they have recently seen the unit, and determined it to be in good condition.
However, if there is damage to the unit exceeding what is remaining of the security deposit after rent charges have been applied, you may be held liable for the additional here />When you move out, if the landlord determines that there is more than normal wear and tear damage to the rental unit, the landlord will charge your security deposit.
How Much Is the Landlord Allowed to Charge?
It is important to familiarize yourself with the landlord tenant act in your state.
There are also different requirements in each state regarding the return of the security deposit.
In some states it must be returned within 30 days, and others within 2 weeks.
Before you sign anything, you should always read it through.
This is especially true with rental agreements.
Take the time to look up the landlord tenant act in your state on the Internet so you know your rights.
Also, after moving into the rental, take pictures of any existing wear and tear so that you cannt be held accountable for it.
Emily Gojko: I am a writer, marketer, and manager with a strong background in real estate development and management.
I am also a native New Yorker with an obsession for home design shows, so I have personal and professional experience making the most of small spaces, and dealing with good and bad living situations.
July 25, 2012 at 11:43 am, Julie said: do you know of anywhere that Will lend you the first months rent and deposit for a rented house?
And you could first and last months rent plus deposit back in installments.



terminology - What does "first, last and deposit" mean when looking for an apartment? - Personal Finance & Money Stack Exchange First and last months rent plus deposit

Is it typical to pay first and last months rent plus a security deposit? : personalfinance First and last months rent plus deposit

Is it legal for a landlord to ask for first and last months rent and a security deposit? Question Details: My rent would be $1410/month (and that's including the $60 tax), so is it legal for my landlord to ask for $2820 plus $1000 security deposit before move in?
But landlords may also ask for a security deposit and request that you pay your last month's rent before agreeing to rent to you. A security deposit is usually equal to one month's worth of rent.
For unfurnished units, the landlord can't charge more than two months' worth of rent. For furnished rentals, the landlord can charge up to three month's rent for the security deposit. This is in addition to the first month's rent. Can any part of the deposit be deemed "nonrefundable?" Not in California. Nonrefundable deposits are against the law.

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Total 4 comments.