What is the maximum amount of money a Landlord can legally.. (rental, condos)

[Belial]

Does anyone know what the maximum months in advance a Landlord can legally ask for in order to allow someone to move in?(NOT regarding sec. deposit. Only monthly rent) Or where I can get that information? One last thing, what documents are Landlords legally allowed to ask for in order to allow you to move in or not, aside from background/credit check?

[Ceece]

I don't know if there is a "legal limit" to rent...it's always what they can get in the open market. First and last months rent isn't unheard of unless you have lousy credit or not job, then they may want more money up front. They can ask for proof of income and references in addition to a credit check and info on any pet that might be moving in as well. Is there something specific you ran into??

[veg8]

Had some college friends that were asked for 1 years rent prepaid. These were desirable condos near the university and the school had a huge housing shortage so I'm not sure if there are any limits.

[InformationPlease]

Originally Posted by veg8

Had some college friends that were asked for 1 years rent prepaid. These were desirable condos near the university and the school had a huge housing shortage so I'm not sure if there are any limits.

I have a friend in LA who recently told me all about her rental experience. Due to her career, there's not necessarily a weekly pay stub to show a landlord or apt manager. She's also not in town for great stretches of time. She explained to me that it was explained to her that a lot of people in her industry pre-pay rent all of the time for the duration of the initial lease. She said b/c they are paid in lump sum it is easy for them to pay the rent in a lump sum and landlords don't necessarily worry about the continued duration of employment, etc.

Sorry I can't offer any firsthand information but she's a reliable source. I'm sure multiple arrangements can be made if you aren't in a similar situation to afford to pre-pay. Good luck!

[Belial]

Originally Posted by Ceece

I don't know if there is a "legal limit" to rent...it's always what they can get in the open market. First and last months rent isn't unheard of unless you have lousy credit or not job, then they may want more money up front. They can ask for proof of income and references in addition to a credit check and info on any pet that might be moving in as well. Is there something specific you ran into??

...They asked for a detailed bank statement. When we gave them one, that was when they required us to pay six months in advance. We had just sold our house and relocated, so there is a significant ammount of money in the account.

[SOON2BNSURPRISE]

Wow, 6 months in advance? Amazing. Is your credit bad? Are you working now? The only reason I could think is if you are not currently working. Are you suggesting that they wanted the money up front because you have it?

If you are not sure about renting with them have you considered other places? I am certain that they are not the only game in town.

[readymade]

I do freelance web design, so I've had the same issues with having to provide bank statements.

I once offered to pay 3 months rent in advance, and then found out that was illegal to do. I would look somewhere else. The LAST thing you want is an unscrupulous landlord. What if they keep it when you move out?! 6 months rent in advance is a lot. Way way WAY too much.

Landlords are only allowed to do first, last, security, and a pet deposit (if you have a pet). And I THINK they're required to put the security deposit (and maybe last month's rent) in an interest-bearing bank account and provide you with the statements.

[obscure reference]

Contact the office of your city council rep (or county supervisor, depending where you are). They should have someone on staff who's familiar with the issue, or who can direct you to someone who can answer your question.