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Account Closed's profile image
Account Closed's profile image
Account Closed
  • from AL
  • Member since Apr 27, 2012
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from AL
  • Member since Apr 27, 2012
Account Closed
  • AL
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General Landlording & Rental Properties

1st + last month + security deposit too much for a $2.1k/m rental

Account Closed
  • AL
Posted

Hey BPers,

I have a rental I want to price at $2.1k/m.

My question is: 

Can the average renter really come up with $6.3k up front to put down?

Maybe it's better to do 1st month up front + like a $3k security deposit instead?

I'm in Maryland -  Baltimore County.

Thank you for your input and experience!

Dan

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Nathan Gesner's profile image
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Nathan Gesner
  • #2 All Forums Contributor
  • Real Estate Broker
  • from Cody, WY
  • Member since Apr 27, 2010

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Nathan Gesner's profile image
Nathan Gesner's profile image
Nathan Gesner
  • #2 All Forums Contributor
  • Real Estate Broker
  • from Cody, WY
  • Member since Apr 27, 2010
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Account Closed:

I see in Maryland I can collect no more than 2 months rental total for security deposit.

So if I collect 1st months rent upfront, in general is that considered not part of security deposit? 

Thank you

Correct. Rent is not part of the deposit computation. 
  • Nathan Gesner
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