Help! Deposits & Fee's (rent, movers, tenant)

[Jav4491]

I am working with a realtor and have found a unit that I like. She told me in the beginning that I would pay 1st month, last month, and security deposit upfront (all the same total) + $100 application fee + $500 move in fee. Now she is saying that instead of paying last months rent upfront ($2,200) I will pay a $1,500 amenities / building deposit upfront. However, now I am responsible for last months rent.


My concern is that I thought the owner was responsible for this "deposit." Why am I paying two deposits? I already paid the $2,200 security deposit to the association. Is it typical to have to pay the building a security deposit, as well?



The realtor said that the owner has no problem paying this, however with this specific association the building deposit needs to come directly from me. It can't come from the owner (this makes no sense to me).



The owner did negotiate on the rent price. However, now I feel like this is how they are making up for it. I just feel like I am getting tricked into paying for something that the owner should be paying for.

[ruski]

Some associations require the tenant to pay the association's security deposit.

[Marc Middleton]

Yeah, they want the tenant to have 'skin in the game'. Every high rise has a building deposit. So 1st/last/sec + building deposit +app fees + elevator deposit (That is returned after your movers leave) is most common. Usually a good realtor can negotiate the owner pay the building deposit, or in your case, forgo the last month's rent. But there are some difficult owners who pay nothing (and it sits on the market longer).

[AnnRyan]

Originally Posted by Marc Middleton

Yeah, they want the tenant to have 'skin in the game'. Every high rise has a building deposit. So 1st/last/sec + building deposit +app fees + elevator deposit (That is returned after your movers leave) is most common. Usually a good realtor can negotiate the owner pay the building deposit, or in your case, forgo the last month's rent. But there are some difficult owners who pay nothing (and it sits on the market longer).

I agree with Mark... usually we can negotiate 1st months rent + 1 month deposit to the owner... and the building deposit. But that will depend on your situation and the owner's preferences.