Updated about 16 years ago on . Most recent reply
Utilities deposits
Just curious what your tenants have to pay around the country for deposits with utility companies. Here, the small town I invest in doesn't even check credit--all renters have to pay a 225 dollar deposit to have electric turned on....gas company checks credit and depending on that, can go up to 150 i think for a deposit...all that, plus my security deposit and 1st month's rent makes it tough for tenants to move in....it's a challenge at first, but then again it provides extreme leverage around lease renewal time when they're pissed i raised the rent 10 bucks a month...that adds up to a lot less than new deposits for everything...what deposits are yall seeing??