Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
I am surprised at how many LL seemingly do not collect First, Last and security deposit at move in. I thought everybody did? Security Deposit for us is equal to one month's rent. What's y'alls practice on this?
@Bjorn Ahlblad if we tried to collect security deposit AND two months rent up front we would never rent a house I believe. We do security deposit equal to one months rent and prorated rent for the first month (second month is full month to get resident on a 1st of the month payment schedule). Majority of our properties are C class with some D class and some B and A class. 80% C class overall.
@Bjorn Ahlblad if we tried to collect security deposit AND two months rent up front we would never rent a house I believe. We do security deposit equal to one months rent and prorated rent for the first month (second month is full month to get resident on a 1st of the month payment schedule). Majority of our properties are C class with some D class and some B and A class. 80% C class overall.
There are three real-estate agencies here in Talladega Alabama that are doing that. My nephew has to come up 1800 dollars just to move. He has a good job but this is really hard for low income people.
@Bjorn Ahlblad In New Hampshire legally you can only collect first months rent and one month for security deposit. I do see some landlords illegally collecting last months rent too and the housing market is so hot I guess either people don’t know the law or are just paying to get the apartment.