OK to negotiate the security deposit amount? (apartment complex, lease, tenants)

[blu_monk]

Usually the SD is for 1 month rent, but is it okay to negotiate it?

Found an apartment for $1350, negotiated the landlord down to $1200.

Think he would accept a SD of $500?

A lot of the apartment communities around me have waived their securities deposits or charge very small amounts. New trend?

Watcha think?

[STT Resident]

I think you need to ask the LL.

[Lacerta]

Everything is negotiable, but in order to get the landlord to agree to a tiny deposit like that, everything else would have to be spot on perfect. Impeccable references, solid job, near perfect credit, no pets, no smoking. Even then, I would guess most landlords aren't going to agree to a deposit that low on rent that high. Apartment complexes might, if they have a lot of vacancies.

[tworent]

As a professional landlord I know what my property is worth and what the deposit should be my policy is simple if you ask for a discount goodbye you no longer qualify it has worked for over 20 years. I found that if I give you a place at a fair price and you need to make deals to get in you will always think you can make a deal down the road to stay.

[mongoslade223]

Originally Posted by Lacerta

Everything is negotiable, but in order to get the landlord to agree to a tiny deposit like that, everything else would have to be spot on perfect. Impeccable references, solid job, near perfect credit, no pets, no smoking. Even then, I would guess most landlords aren't going to agree to a deposit that low on rent that high. Apartment complexes might, if they have a lot of vacancies.

I agree. It's worth a shot but only if your credentials are spotless.

[mongoslade223]

^^And the LL is desperate

[wigirl920]

I'd tread carefully. You said you already negotiated the LL down to $1,200 already...do you want to keep pushing the envelope to the point where he says it's not even worth it?

[KonaKat]

The LL should actually stick to his given policy because he could get in trouble w/ Fair Housing laws by giving one person a lower deposit, but not others.

[bentlebee]

Originally Posted by blu_monk

Usually the SD is for 1 month rent, but is it okay to negotiate it?

Found an apartment for $1350, negotiated the landlord down to $1200.

Think he would accept a SD of $500?

A lot of the apartment communities around me have waived their securities deposits or charge very small amounts. New trend?

Watcha think?

All people who called me last yr to ask if I would accept partial payments of the sec. deposit or take less...have been denied by me. If you can't afford the sec. deposit you don't deserve the place and you should find anything cheaper...if you can negotiate the SD, think by your self...why is the LL doing this...just to be nice or because he is almost in foreclosure and needs to get a sucker to pay some rent before he bails out at all!

Have a nice sleep in your cheap rental and don't start the next thread, with..."I paid less SD, but now the LL is in foreclosure"

[Ultrarunner]

Don't be surprised if too much negotiation kills the deal...

Most people are on their best behavior... Tenants and Landlords before the lease is signed...

My experience has taught me it is generally best to pass when everything needs to be negotiated.