Security Deposit and Studio Price Question (Huntington: apartment complex, rentals, house)

[susana0207]

Hi. Is it legal or even customary to ask for two months rent for a security deposit? Here, in NJ, it is not. I'm just wondering because I'm still helping my brother in law find an apartment and they want 2 months security, plus first month's rent, plus one month for the realty fee. That's $8000. Having lived in many apartments throughout my life, I've never heard of this kind of money being paid up front.

Any thoughts?

Also, is $2000 for a studio in Huntington market rate? Thanks!

[Elke Mariotti]

Originally Posted by susana0207

Hi. Is it legal or even customary to ask for two months rent for a security deposit? Here, in NJ, it is not. I'm just wondering because I'm still helping my brother in law find an apartment and they want 2 months security, plus first month's rent, plus one month for the realty fee. That's $8000. Having lived in many apartments throughout my life, I've never heard of this kind of money being paid up front.

Any thoughts?

Also, is $2000 for a studio in Huntington market rate? Thanks!

The price is a bit on the high side for a studio, unless it's one of those new ones in the heart of downtown Huntington...

And yes, it is legal here to ask for two months security (it's not "rent" per se, but security against possible damage when it's time to vacate the apartment/house). Most rentals ask for one month security, although it's not uncommon to ask for more for high end rentals.

I agree, it's a lot of money.

[kayfouroh]

You could rent a smaller house for not much more money per month.

Sent from my SGH-T989 using Tapatalk 2

[Amisi]

$2000 for a studio apartment anywhere on Long Island is insane. He's getting totally ripped off. You could get a studio on the UES of Manhattan for less than that.

A studio apartment on LI should be no more than $850-$1000 TOPS --- and that should include cable and electric! I don't care what neighborhood it's in. And 2 month's security, 1 month's rent, plus realtor fee??? C*R*A*Z*Y!!!!!!!!!!!!!!!!!!!!!!!!!!!! 1 month's rent, 1 month's security, plus realtor fee (although you can avoid that by finding a place yourself thru the newspapers, etc)

I don't know who he's dealing with or what realty, but he's being ripped off big time.

For $2K/mo he can get a nice TWO BEDROOM in an apartment complex. For $1800, he can probably rent someone's 3BR house.

[ocngypz]

RIP OFF!!!!!!!!!!!!!!!!!!!!!

Go to the LIMLS

He can rent an entire house for a little less... or for the same amount. 1.5 months security or 1 month security.