Deposit Amount (apartment complex, tenant, security deposit, credit)

[lepoisson]

It seems as if deposit amount is a very regional thing.

When I lived in NC, your deposit was based on your credit. Most of my deposits were around $50. I always wondered why even bother taking $50?

When I moved out to MO, I was expected to pay a deposit the same amount as the monthly rent.

I moved to TX recently and only had to pay $50 in a corporate apartment complex.

Any insight on this?

[Corn-fused]

Average collected across the board for security deposit is one month's rent but it does vary state to state and LL/PM to LL/PM, etc. There are also different types of deposits above the security deposit that some LLs/PMs can charge (pet dep, cleaning dep, etc-state specific). As long as they follow their state's security deposit laws first and foremost that is the key factor. Some states have an equal to one month limit, some have equal to 2 month limit, etc.

[GraceKrispy]

I've always had to pay a month's rent or $1000. Those seem standard for the various states in which I've rented (all in the West). I'd LOVE to pay only $50!

[oregonwoodsmoke]

It's up to the landlord how he wants to do it.

I used to charge one month's rent, plus a $300 pet deposit for tenants with pets. Now with every tenant claiming that their pet is a service animal, I simply charge every tenant the amount of the rent plus $300 for one deposit. Then the "service animals" don't get in for free and the tenants with pets are thrilled that there is no pet deposit.

[joliefrijole71]

One month's rent is usually the norm out here in California. Some complexes will offer reduced rates based on credit. And I've seen the greedy types that charge first and last month's rent AND a deposit!

[lepoisson]

Originally Posted by oregonwoodsmoke

It's up to the landlord how he wants to do it.

I used to charge one month's rent, plus a $300 pet deposit for tenants with pets. Now with every tenant claiming that their pet is a service animal, I simply charge every tenant the amount of the rent plus $300 for one deposit. Then the "service animals" don't get in for free and the tenants with pets are thrilled that there is no pet deposit.

Are you allowed to ask for any service animal documentation?

[Vinny536]

I've rented houses and apartments in AZ, NC and FL. I don't believe I've ever had a place charge more or less than one month's rent in deposits.

[oregonwoodsmoke]

Originally Posted by lepoisson

Are you allowed to ask for any service animal documentation?

There is no documentation for service animals. The tenant's word is it. They call it a service animal and the dog must be accepted, and no pet deposit allowed.

There is a doctor's letter for emotional support animals and the landlord can ask to see that, but not for a service animal.

I allow pets, anyway, so it is less of an issue for me, except that every tenant with a pet pit bull claims it is a service animal.

I do have an application for reasonable accommodation of a service animal. It contains the questions that I am allowed to ask and states that I will assist the DA in prosecuting anyone who falsely represents a pet to be a service animal.

[oregonwoodsmoke]

Actually, not even a doctor's note on the emotional support animal. Any medical professional can write one, so your herbalist can write one for you.

[lepoisson]

Any guesses as to why my current apartment complex would only charge a $50 deposit? Seems very unusual to charge such a low amount.

My only guess is that the $50 is supposed to cover the last month of water. This is because we are billed for water by the landlord a month after the fact. When you pay rent on March 1 for the entire month of March, you are paying for water from mid-Jan to mid Feb. So if you move out at the end of June, you'll still be responsible for water up until you moved out.