OK to negotiate the security deposit amount?

[EricBoyd]

The security deposit "may" be negotiable, but it's definitely up to the LL. One thing to keep in mind is that the security deposit is actually YOUR money, but it's being held by the LL, or their agent, until the term of the lease has run its course and all conditions are met. It's in the best interest of the LL to hold a security deposit in a reasonable and sufficient amount so as to cover any potential damage or loss to the property, caused by a tenant. IMHO, a LL who accepts an unusually low amount of security deposit is making a big mistake. Yeah, a tenant will love that, but it could only come back to bite the LL if there's any damage to deal with in the end.

[Rgluckydog]

Private owners can charge as little or as much or none at all. It's totally up to them. I have a short sale I am renting until it sells or forecloses with no deposit, in luei of them making all their own repairs and cleaning etc. "as is" condition. If it weren't selling or going back to the bank, I think I would get a deposit, but this way I don't owe anything back, and they fix everything themselves.
I have rented where they let me pay over a 3 or 4 month period also. Negotiate with them.

[Ultrarunner]

Originally Posted by Rgluckydog

Private owners can charge as little or as much or none at all. It's totally up to them. I have a short sale I am renting until it sells or forecloses with no deposit, in luei of them making all their own repairs and cleaning etc. "as is" condition. If it weren't selling or going back to the bank, I think I would get a deposit, but this way I don't owe anything back, and they fix everything themselves.
I have rented where they let me pay over a 3 or 4 month period also. Negotiate with them.

*** As long as the property is not subject to local rent control statutes and the property meets applicable habitability standards.

[tworent]

Originally Posted by Rgluckydog

Private owners can charge as little or as much or none at all. It's totally up to them. I have a short sale I am renting until it sells or forecloses with no deposit, in luei of them making all their own repairs and cleaning etc. "as is" condition. If it weren't selling or going back to the bank, I think I would get a deposit, but this way I don't owe anything back, and they fix everything themselves.
I have rented where they let me pay over a 3 or 4 month period also. Negotiate with them.

And here is a good reason a tenant should be leery if a landlord wants to make deals If you have a landlord that cannot afford the house one day you’re going to find yourself getting kicked out because of no fault of your own. People like this give landlords a bad name

[ESFP]

I find that if a tenant can't pay the security deposit, how can he pay the rent? You should not be paying more than 25% of your income on living expenses. Thus, you should have enough left over for the deposit. You're telling your landlord that you can't come up with $700 of the deposit. How are you going to come up with $1350 for next month's rent, too? Sounds like trouble, and I would look elsewhere for a tenant if it were me. If you want this apartment, it's best to let the landlord believe that you can afford it.