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Old 02-23-2010, 03:38 PM
 
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Default First + last + security ?

What is the common, most reasonable first day payment? Should it be the first month rent + security deposit? But I see some asking for first AND last month AND security. I assume they mean the last month the tenant will not need to pay?
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Old 02-23-2010, 03:54 PM
 
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This has been abused so much, many states have laws on what can be charged. Since you didn't provide your state, I will tell you how it is in California
(last months rent is considered part of the security deposit)
  • Unfurnished rental unit: The total amount that the landlord requires as security cannot be more than the amount of two months' rent. If you have a waterbed, the total amount allowed as security can be up to two and-a-half times the monthly rent.
  • Furnished rental unit: The total amount that the landlord requires as security cannot be more than the amount of three months' rent. If you have a waterbed, the total amount allowed as security can be up to three-and-a-half times the monthly rent.
  • Plus first month's rent: The landlord can require you to pay the first month's rent in addition to the security deposit82
California Tenants - California Department of Consumer Affairs
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Old 02-23-2010, 05:22 PM
 
Location: Up in the air
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Quote:
Originally Posted by DowntownVentura View Post
This has been abused so much, many states have laws on what can be charged. Since you didn't provide your state, I will tell you how it is in California
(last months rent is considered part of the security deposit)
  • Unfurnished rental unit: The total amount that the landlord requires as security cannot be more than the amount of two months' rent. If you have a waterbed, the total amount allowed as security can be up to two and-a-half times the monthly rent.
  • Furnished rental unit: The total amount that the landlord requires as security cannot be more than the amount of three months' rent. If you have a waterbed, the total amount allowed as security can be up to three-and-a-half times the monthly rent.
  • Plus first month's rent: The landlord can require you to pay the first month's rent in addition to the security deposit82
California Tenants - California Department of Consumer Affairs

If only the landlords that I've experienced in CA actually READ the books.

I can't even count the times I've gone to look at a rental that charged first, last and a security of two or three times the rent, PLUS pet rent PLUS a pet security deposit. We looked at a little run down 2 bedroom 1 bath condo that was renting for $1200 a month, and the total to 'move in' was $7500. It included the first and last ($2400), security deposit ($3600), pet rent ($100 each pet per month) and a pet deposit of $500 per animal (we had a betta fish, two dogs and a bird...and yes, he wanted to charge us $500 for the betta fish....)


We quickly walked away from that place.
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Old 02-23-2010, 05:58 PM
 
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Originally Posted by JetJockey View Post
If only the landlords that I've experienced in CA actually READ the books.

I can't even count the times I've gone to look at a rental that charged first, last and a security of two or three times the rent, PLUS pet rent PLUS a pet security deposit. We looked at a little run down 2 bedroom 1 bath condo that was renting for $1200 a month, and the total to 'move in' was $7500. It included the first and last ($2400), security deposit ($3600), pet rent ($100 each pet per month) and a pet deposit of $500 per animal (we had a betta fish, two dogs and a bird...and yes, he wanted to charge us $500 for the betta fish....)


We quickly walked away from that place.
What a ripoff. I would have walked too, Even if you forced him into compliance, it probably would not have been a pleasurable residency
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Old 02-23-2010, 06:52 PM
 
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Landlords come in all shapes and sizes...

Generally, professional management is good about following the letter of the law...

Independent owners and often not professionals... some have been thrust into being a Landlord and others simply take the path of least resistance.

Always good to know what can and can't be done...
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Old 02-23-2010, 09:44 PM
 
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Quote:
Originally Posted by JetJockey View Post
We quickly walked away from that place.
Even if you didn't walk away, your bird and fish would have done.

One can imagine they probably would find every possible reason to deduct your deposit when you moved out.
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Old 02-24-2010, 06:44 AM
 
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Quote:
Originally Posted by ssww View Post
What is the common, most reasonable first day payment? Should it be the first month rent + security deposit? But I see some asking for first AND last month AND security. I assume they mean the last month the tenant will not need to pay?
You either joking or very naive...

In cases that a tenant has not much rental history and or not a very high credit score, I ask for first, last and security deposit and it means what it is saying....does it any where is saying last month for free? Nope so you have to pay!

It is a way for a LL to be able to rent to people with less credentials. I once had a self employed person applying for my rental. They had their house in foreclosure and stated they were good for their money but didn't have any proof and neither didn't he want to provide me with tax returns....so I told him I would need first, last and sec. deposit before moving in and of course....he stated he couldn't afford it and I rented out to people with much better credentials.

Due to the Fair Housing Act/Civil Act, a LL has to be very careful if they deny a person although a LL is allowed to deny a person for not being able to proof a rental history and being able to afford the rental, but they also could claim they were discriminated due to their race and in order to prevent that I always are saying, with good credentials you don't have to pay last months upfront, but with less credentials I do charge last months upfront...
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Old 02-24-2010, 07:19 AM
 
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If you pay the last month's rent when you sign the lease, then you don't have to pay your last month living there. So if you move into an apartment October 2009 and sign a 12 month lease, give your landlord when you pay your August 2010 rent that you will not be extending your lease. Then you don't pay for September, you move out by the 30th, and hopefully you left it in great condition and get back your deposit.
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Old 02-24-2010, 08:16 AM
 
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Quote:
Originally Posted by TouchOfWhimsy View Post
If you pay the last month's rent when you sign the lease, then you don't have to pay your last month living there. So if you move into an apartment October 2009 and sign a 12 month lease, give your landlord when you pay your August 2010 rent that you will not be extending your lease. Then you don't pay for September, you move out by the 30th, and hopefully you left it in great condition and get back your deposit.
Thank you TouchOfWhimsy. This was exactly what I meant when I said the tenant didn't need to pay (again) for the last month. The tenant would have simply paid the last month in advance (otherwise why was part of the initial payment called "last month").
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Old 02-24-2010, 09:16 AM
 
Location: Up in the air
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Quote:
Originally Posted by ssww View Post
Even if you didn't walk away, your bird and fish would have done.

One can imagine they probably would find every possible reason to deduct your deposit when you moved out.
I just couldn't believe they wanted to charge us a $500 for the bird and additional $500 for the fish...I mean, the fish was in a 1/2 gallon container and the bird is a little finch. I thought $1000 for two little animals was a bit much.
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