Apartment question

[HardcoreRomantic]

I'm looking at renting a 2 bedroom apartment (with roommate) for $860/month. Most people I've talked to have said that most security deposits are going to be about $400-500. This one is asking for the $860. Is that unreasonable?

 

[MrChad]

1 month's rent is not an unreasonable security deposit.

 

[apac]

From my experiences security deposits are usually = 1 months rent, or more. That sounds reasonable to me.

 

[Wonderful Pork]

several apartments I looked into renting had 1 months rents as a security deposit amount.

 

[Tiamat]

No. Usually, the landlord can ask 1/2 or full month for security deposit. This can depend on your credit check, reference, or the landlord's personal policy. They cannot, however, ask for more than 1 month rent for security (at least here in Massachusetts).

 

[NuroMancer]

Originally posted by: MrChad
1 month's rent is not an unreasonable security deposit.

 

[Supermercado]

In the two apartments I've rented, it's not been but about half a month's rent but my understanding is that a full month is completely normal.

 

[FeuerFrei]

Probably not unreasonable. I rented a 590 sq ft apartment back in '97 for $345/mo. Security deposit was $200.

 

[George P Burdell]

Originally posted by: MrChad
1 month's rent is not an unreasonable security deposit.

 

[HardcoreRomantic]

All right. I was just wondering since this is the only 2 bedroom I've looked at that had the full month's rent as a deposit. The 1-bedrooms I've had have all been = one month's rent, but a few of my friends have said that it's unreasonable for a 2 bedroom. Thanks!

 

[Koing]

Originally posted by: apac
From my experiences security deposits are usually = 1 months rent, or more. That sounds reasonable to me.

 

[olds]

Back in the day, it was first months, last months and a security deposit.
IE: 860 + 860 + 500 = 2200

 

[Sphexi]

I've lived in about 5 different apartments over the past 6 years. Two had full month deposits (NE US), two had half month deposits (Victoria, BC), and one was just me renting a room in a place another guy had, paid him first and last month's rent, no deposit really.

Might be based on local/state laws, but a full month is not unreasonable. Just means you'll be getting more back when you move out

 

[Nik]

Originally posted by: oldsmoboat
Back in the day, it was first months, last months and a security deposit.
IE: 860 + 860 + 500 = 2200

I am reasonably confident that it is no longer legal to require last month's rent if first month's and security deposit are already required.

 

[yowolabi]

It's completely reasonable. Being a 2 bedroom doesn't change anything.

 

[Special K]

Has anyone ever heard of a non-refundable security deposit? The apartment I'm living in now charged me a non-refundable security deposit equal to ~18% of one month's rent, and another refundable deposit of ~25% of one month's rent. The apartment complex was brand new; I was the first resident of this particular unit.

 

[Suspicious-Teach8788]

Wow you guys live in the cheapest housing areas ever.

Our deposits are at least one month's rent. I've done renting where it's first and last month's rent.

 

[Ns1]

i've done as much as 2x security deposit (max allowed by california law)

2x sec deposit + 1st months' rent = WTF

 

[smack Down]

Originally posted by: Special K
Has anyone ever heard of a non-refundable security deposit? The apartment I'm living in now charged me a non-refundable security deposit equal to ~18% of one month's rent, and another refundable deposit of ~25% of one month's rent. The apartment complex was brand new; I was the first resident of this particular unit.

Well you might as well fuck up the place before you leave.

The whole idea behind a security deposit is so the tenats have a reason not to screw up the place.

 

[potoba]

i paid 1.5 month rent as deposit

 

[nageov3t]

average security deposits tend to be 1 month's rent or 1.5 month's rent.

 

[Tiamat]

Originally posted by: GuideBot

Originally posted by: oldsmoboat
Back in the day, it was first months, last months and a security deposit.
IE: 860 + 860 + 500 = 2200

I am reasonably confident that it is no longer legal to require last month's rent if first month's and security deposit are already required.

Boy do i wish that was the case. I had to pay First month's, Last month, Security, Finder's Fee, Key Fee. All for a whopping 4 months rent + 15$ up front.

 

[Jeff7]

Originally posted by: MrChad
1 month's rent is not an unreasonable security deposit.

Yup, same here. My security deposit was in fact $450. But then, my rent is also going to be $450/month.