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Old 09-02-2015, 09:49 AM
 
Location: Parker
3 posts, read 1,893 times
Reputation: 14

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Hey!

I am looking to rent my first house. When I applied to this house they told me there was a security deposit of $1800, which I was fine with. But once they gathered myself and my two roommates information (credit report, background, income, etc.) they said we would have a higher security deposit. Possibly doubled.
My question is... is that a normal thing?

They never gave us a reason why, our backgrounds are clean, we make four times the amount of rent combined, and credit scores are over 700. The only thing I can think of is that we are all under the age of 25.

If its not normal, any suggestions on how to fight it?
We have printed off the listing that clearly states the deposit and says nothing about it possibly increasing.

Thanks for reading!

Moe
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Old 09-02-2015, 10:21 AM
 
3,794 posts, read 3,987,784 times
Reputation: 2566
Unless a lawyer says otherwise, I assume the landlord has the right to change the terms of his offer. I would ask them directly why it changed. It probably has something to do with your age, first house, perceived risk and reliability. I'd request another in person meeting with all your fellow renters and try to sell the owner that you are not as risky as perceived using what you said here and perhaps more. Did you have to give a personal reference or can you voluntarily provide a good one?

In the end you can say "I will gladly pay the advertised deposit and no more" and probably lose it. Or offer to pay the higher deposit with part returned after 3 or 6 months if there are no documented material damages or lease violations. Or pay the requested for a year and then seek lower the next time. It depends how bad you want this place and how easy it would be for the owner to get someone they felt less risk with or willing to pay the higher deposit. There are two sides to the issue. There is risk to worry about. Talk to the owner more and see if you can lessen the concern. You might not be able to but trying has some chance.

Last edited by NW Crow; 09-02-2015 at 10:34 AM..
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Old 09-02-2015, 10:29 AM
 
Location: Parker
3 posts, read 1,893 times
Reputation: 14
Thank you! I will try this!
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