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First and last months security deposit is given so the landlord has a means of repairing any damage you might do to the house. It encourages the renter to take care of the property in order to get their deposit back.

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10y ago

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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.


Is renting a home for the first time hard to do?

Renting a first home may be difficult if you have bad credit and/or no references. If you are able to put up a substantial security deposit it should be a much easier process.


Are you entitled to your security deposit if your home is in a fire and is not in living condition?

Yes, unless you caused the fire.


Do you have to pay first and last months rent plus a security deposit to rent a home?

Usually, but it's up to the discretion of the landlord. You can possibly negotiate with them if you can convince them that you are trustworthy.


What is the typical deposit amount required for first home buyers?

The typical deposit amount required for first home buyers is usually around 5-20 of the home's purchase price.


What are the requirements for Destin vacation rentals?

You need to sign a rental agreement and pay a damage deposit. Also make sure you get payment protection insurance from a place like Home Away's Carefree Rental Guarantee.


Do we have to make a down payment for a rent house?

You usually will need to make a down payment if you are buying a rental home & either taking out a loan from a bank or other lender, or working with the owner to finance for you. If you are renting a home, as opposed to buying a home to rent out, then you will need what is called a security deposit, which is usually the equivalent of three months worth of rent payments.


What can happen if you leave a rental home in bad condition?

You will lose your deposit at least. At worst the owner/agent will seek damages against you in civil court.


How can you receive help paying your deposit to move into your section 8 house?

This Free Guide wil show you everything on home renting look in related link for " Home Rental Guide "


Can a landlord break a vacation home rental agreement?

I have booked a vacation rental property, paid a deposit of $1250 over 6 months ago, and the landlord has just canceled my booking because she sold the property. What are my rights?


How do you decide how much to charge for a security deposit on a 12 month long term lease on a home worth 340000 rent 1800 per month?

Most states have a statute which limits the amount of a security deposit, usually to one month's rent.