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Can you explain what first, last, and security deposit mean in terms of renting a property?
First, last, and security deposit are payments made by a tenant to a landlord when renting a property. The "first" refers to the first month's rent, the "last" refers to the last month's rent, and the "security deposit" is a refundable amount held by the landlord to cover any damages or unpaid rent at the end of the lease.
What else can I help you with?
How does first, last, and security work when renting a property?
When renting a property, the first month's rent is paid upfront before moving in. The security deposit is also paid upfront and is held by the landlord to cover any damages or unpaid rent. The last month's rent is paid at the beginning of the lease and is used as the final month's rent when moving out.
What is the cost associated with renting a house?
The cost associated with renting a house typically includes monthly rent payments, security deposit, utilities, maintenance fees, and possibly additional fees for amenities or services.
What are the pros of renting apartments rather than buying a home?
One of the biggest pros of renting would have to be that you are not responsible for the cost of maintenance on the property. Additionally, the required deposits are much smaller on rentals than the deposit to purchase a home.
What is the difference between renting a property and having a mortgage?
The difference between renting a property and having a mortgage is that when you have a mortgage you are buying the property.
Can you get a home equity loan on your rental property?
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.
Do I need to provide a security deposit when renting a laptop?
Most rental companies require a security deposit.
How does first, last, and security work when renting a property?
When renting a property, the first month's rent is paid upfront before moving in. The security deposit is also paid upfront and is held by the landlord to cover any damages or unpaid rent. The last month's rent is paid at the beginning of the lease and is used as the final month's rent when moving out.
How do you sue your old landlord who forclosed on the property you were renting so that you can get your deposit back after he has filed for bankruptcy?
Get a lawyer
What is money required for leasing or renting property as protection for the landlord in case the tenant doesnt pay rent or maintain?
That's known as a security deposit, which is returned to the tenant after they vacate the premises, provided there are no damages.
Can a landlord damage your credit if they never took a security deposit or Social Security Number from you?
No, they have to have your SS# to be able to do anything with your credit. Also a security deposit doesn't mean anything when it comes to renting if you do not pay your rent or get evicted due to another cause it has nothing to do with your credit.
Can your landlord require as a condition of renting an apartment to you a security deposit the first month's rent and the last month's rent in California?
yes
Renting an apartment in Indianapolis In with evictions?
Renting an apartment in Indianapolis, IN when there have been prior evictions can sometimes be tricky. It is best to be upfront with the landlord. They may require references and a security deposit in order to rent the apartment.
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.
What is the cost associated with renting a house?
The cost associated with renting a house typically includes monthly rent payments, security deposit, utilities, maintenance fees, and possibly additional fees for amenities or services.
How much deposit can you charge a renter?
All 50 states allow renters to be charged a security deposit when renting. The amount is left up to the discretion of the landlord, but typically it is equal to the first month's rent.
Is a loan the same thing as rent?
Of course not. A loan is not a payment, but rather an entrusting of another person with your property (or money), expecting it to be returned. Rent is simply a payment in exchange for possession of something for some defined period, and it will not be returned. Similarly, a security deposit for renting property is not a loan and is not rent: it remains the property of the tenant, but is held by the landlord until the tenancy is discharged.
What protection do I have against property damage?
The Airbnb Host Guarantee provides protection for up to $1,000,000 to a host for damages to covered property in the rare event of guest damages above the security deposit or if no security deposit is in place.The Host Guarantee program doesn't cover cash and securities, collectibles, rare artwork, jewelry, pets or personal liability. We recommend that hosts secure or remove valuables when renting their place. The program also doesn't cover loss or damage to property due to wear and tear.Learn more about the Host Guarantee at http://airbnb.com/guarantee
