Is a 2 month security deposit for an apartment normal?

[runzwithsizorz]

Originally posted by: yamadakun
Don't forget THEY can get interest from your deposit.

HAD to fix that for ya!

 

[Firebot]

First and last is allowed in Ontario Canada, however no other deposit other then rent is legal (such as security deposit). The landlord must also pay interest to you on that deposit which is being held. You should check with your state tenant laws to see what laws apply in terms of what deposits are allowed by a landlord.

 

[Captante]

Originally posted by: runzwithsizorz

Originally posted by: yamadakun
Don't forget THEY can get interest from your deposit.

HAD to fix that for ya!

Not true in Connecticut ... security deposits must be held in a dedicated escrow account & interest paid to the renter.

 

[HyTekJosh]

Originally posted by: Captante

Originally posted by: runzwithsizorz

Originally posted by: yamadakun
Don't forget THEY can get interest from your deposit.

HAD to fix that for ya!

Not true in Connecticut ... security deposits must be held in a dedicated escrow account & interest paid to the renter.

QFT.


I am currently looking at an apartment in Manhattan and a two month security deposit is required. Thats a lot of money considering the amount of the rent!

 

[Eeezee]

2 months is a little much in my experience, I've only ever seen one-month.

Are you sure it's not 1-month security deposit + the first month's rent? That's a bit more common.

In any case, if you leave your apartment in perfect condition then you'll get most of your money back anyway, so who cares?

 

[pulse8]

In California they can charge up to twice, one month's rent for a security deposit.