Security deposits in Pennsylvania

[Joe Steinheiser]

How much can I ask for in a security deposit legally in PA? Can I ask for first and last month's rent on top of that?

[Conor Brennan]

@Joe Steinheiser I believe you can ask for first, last, and 1 month for security deposit. Alternatively, you can ask for first and 2 months rent for the security deposit. But, my understanding is that you cannot ask for first, last, AND 2 months rent for security deposit. If a PA investor would like to chime in with more detail, that would be great. 

Also, be sure to check the laws in PA regarding security deposits. Deposits must be held in escrow, separate from other funds, and interest is owed if a tenant stays past two years. If any of the funds are mishandled, you may be liable for 2x the deposit amount. 

I hope this helps!