The regulations regarding all monies paid by a tenant in advance to a landlord varies greatly by state and local municipalities. In California, specifically Los Angeles county where I live, a landlord is prohibited from requiring advance payment of rent and must call it 'security deposit'. Here, a rule, effective as of 1990 (but in a moratorium as of this year!), mandates payment of interest on any and all monies held more than 12 months. And, in researching rental rights for landlord and for tenant, I have come across many variants regarding advance and deposit payments that one would need to know your location for a definitive answer!
Massachusetts statutes allow a landlord to collect, at the beginning of a tenancy, the first month's rent, the last month's rent, a security deposit, and a key fee. Most states are similar.
Normally you start paying the rent after 30 days. The landlord keeps the "last" months rent as a security deposit until you move out. In some states, you can use this as the final month's rent on your lease (usually the 12th month.) If you renew your lease the landlord will keep it until your final 30 days. . . that's why it's called the "last" month's rent.
only if that is agreeable with landlord. A lease agreement without a lease is a verbal lease. Your last month's rent is not a security deposit.
Yes it is legal to ask for first, last and security in Rhode Island. Page 5 of The Rhode Island Landlord-Tenant Handbook issued by the State, states that, "A landlord can take a security deposit from a tenant at the beginning of a new rental term but it cannot exceed one month's rent." and "Separate amounts of money can be requested from a new tenant for prepaid rents, etc." You can view the handbook (right click to download the pdf) on the link below. We will be doing this from now on after a long-term tenant used his security deposit to pay his last month's rent. While the apartment was fortunately in good shape, it could have been an expensive lesson if he'd trashed it and skipped out on the last month's rent. Collecting last month's protects the security deposit and ensures that the rent will be paid once they've notified you of their intentions to move out. Since paying all three fees (first, last, security) at once can be a huge financial hit, you may want to have them pay one of the fees in installments over several months.
Her rent will be 350 times 12 months, so the total rent at the end of the year will be 4200. The deposit is separate and she may or may not get the 700 back.
It is very common for a landlord/rental agency to require first and last months rent and a security/damage deposit. Check local/state renters laws to ensure your rights.
Yes you can. Your landlord cannot use your last month's rent as security deposit and vice versa.
Yes.
No, you are not required to pay last months rent again. Just make sure you are not mistaking it for the security deposit. Rent and security deposits can be the same amount. Check your rental agreement for clarity. Julie
Massachusetts statutes allow a landlord to collect, at the beginning of a tenancy, the first month's rent, the last month's rent, a security deposit, and a key fee. Most states are similar.
Almost never.
Some Housing Authorities will pay the security deposit as well as the first months rent for a tenant. What I mean by rent is their portion of the rent: the tenant is still obliged to pay their portion of the rent. But very few housing authorities do this.
Usually, but it's up to the discretion of the landlord. You can possibly negotiate with them if you can convince them that you are trustworthy.
Yes, I believe so. The security deposit is limited to 2 month's rent which is pretty much what you are asking about.
Most states have laws that say you do.
Yes. If you mean 'the rent for last month', certainly. If you mean the 'last month rent deposit', probably, if the rental agreement states that the deposit was to have been funded.
Confusing query; rent cannot go up during the lease.