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No, unless you're moving out.
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∙ 13y ago
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Can a landlord use your last month's rent to repair the apartment?
No. Your last month's rent is that: your last month's rent. The landlord must allow you to stay in your apartment for the last month and not use that money for any other reason. If the landlord collected a security deposit then he can use it to repair his unit: IF you are the one who damaged it outside the realm of normal wear and tear. He cannot use your security deposit as your last month's rent unless you agree to it.
Landlord has last months rent plus security. can I live out last months rent?
Yes you can. Your landlord cannot use your last month's rent as security deposit and vice versa.
When does last month rent apply?
Last month's rent applies to the last month you will be staying at your unit. If you give 30-days' notice of your intent to vacate then you may keep your money you would otherwise pay your landlord and use that last month's rent, which cannot be used as your security deposit to be offset for damages (the security deposit is for that purpose).
What is an average security deposit on a 2 bedroom rental home?
in Cleveland OH it's a given that it would be the same as a month's rent. Warning: from my personal experience do NOT use that as your last month's rent.
When you pay first and last security deposit on a rental home and you stayed there for your first month do you owe after the first 30 days or do you start paying on the second month you just don't get?
Normally you start paying the rent after 30 days. The landlord keeps the "last" months rent as a security deposit until you move out. In some states, you can use this as the final month's rent on your lease (usually the 12th month.) If you renew your lease the landlord will keep it until your final 30 days. . . that's why it's called the "last" month's rent.
If you gave a 600 deposit when you rented a house can you legally use that as part of your last months rent?
Normally not: a security deposit cannot be used as last month's rent, nor vice versa, without mutual agreement.
Can a month to month tenant give a 30 day notice in the middle of the month or do you to go pay period to pay period?
Normally speaking, you have to pay for every month you are in control of the unit. So if you give a month's notice you still have to pay a month's rent. If your landlord is holding a security deposit he cannot use that as the last month's rent unless you agree to it. If your landlord gave you a thirty-day notice to move it he must give it to you at least 30 days before the next rent is due, as must you give him such notice.
What is the journal entry of rent received in advance?
Debit Cash for the cash received, and credit a liability account you can call Prepaid Rent or Prepaid Deposits. Basically, you credit a liability account because you "owe" them the rent for the month they have paid for in advance. Once the month has passed, you can debit the Prepaid Rent and credit Rental Income. Or, if the prepaid rent is a deposit made, you just keep it on your books as a liability until the end of their lease, at which time they will either be refunded the deposit (debit Prepaid Rent, credit Cash) or if they don't pay their last month's rent you can use the deposit (debit Prepaid Rent, credit Rental Income).
Is it better to rent or lease a home?
It is better to rent because the lease involves signing a contract saying 'I am going to use this house for (insert time)' while the rent usually goes by month to month and you can leave out on the deal almost anytime.
How can i use evict in a sentence?
Im going to evict you if you dont pay your rent this month.
Can a lanlord use security deposit if tenant is late on the rent?
You can in Massachusetts - you don't say what state you are in. The landlord has the option of using the deposit for back rent, but he doesn't have to.
The rental revenue represents the amount received for 11 months for use of the dining facilities The December rent has not yet been paid What is the adjusting journal entry?
Rent Dr Rent Accrued Cr (for the Dec month)
