Rent

**cireone** · August 18th, 2008, 11:20 PM

Is there any reason why potential landlords require a first and last months rent on top of the security deposit?????
It can be outrageous. Im trying to get a new place and Ive been getting the same upfront fees from alot of people. Im strapped on funds and cant afford to have $3000 upfront to rent a house and not get any back or just the deposit.

**shark6** · August 19th, 2008, 07:49 AM

We use to be landlords and I can tell you why we insisted on it, it limits our chances of getting stiffed AND it limits our chances of having someone damage the property and having to pay it out of last months funds.

The first months rent ususally ends up being prorated. if you are strapped for funds which most renters ususally are, try moving in on the 15th or after, that way, u are only paying 1/2 of first months rent or even less.

The last month is for those renters who like to announce that they are leaving and only give you 2wks notice and violate the least. This rent covers that month. This is prudent on the landlord's part because it can take 2-4mths to get a place rented and all the time their mortgages have to be paid. Renters have been known to leave in the middle of the night getting 2wks to a whole month free depending on how long it takes to have them evicted or even if they paid their last month, if they don't give the appropriate 30 days notice, this lst month that the landlord holds is good to have because it can be timely and expensive to prepare a house for rental, advertise and wait for a new tennant.

The security deposit is a separate puppy. This is good to have as there ususally is some damage over normal wear and tear and this covers that. Right before we rent, we have the tenant do a walk through adn we note the condition of everything. Before they get a refund of their deposit, we do a final walkthrough and any damage is noticed. We then have 2wks from the final walkthrough according to my state to refund any security deposit less damages which must be itemized. If you leave a house/apartment in good condition, you will have your deposit refunded with interest.

Renting a home from a landlord perspective can be risky and we must protect ourselves. I also do background and credit checks. However, if someone was honest with me upfront, have stability on the job, made decent money, we sometimes worked with them on the last month i.e pay in 2 to 3 installments.
Hope this helps.

For you specifically,if money is tight:

1,. Try to move in on the 15th or after to have 1st rent prorated
2. Always be honest and upfront to a landlord regarding any credit problems because they will see when they pull credit
3. Ask to have last month worked out where you can pay in 3 installments and stick to it.

Good luck

**Meya** · August 19th, 2008, 08:28 AM

Hvent heard that in a while, all I hear about in California is First & Security Deposit. If I am not mistaken, they can't ask for first, last, and security in California, it will have to be either First & Deposit, or First & Last. I will check up on this to make sure I am right, but I will take Shark6 advice since she has experience in this matter. I am for sure that it is for security of the landlords because you have some tenants who will mess you over in the rental industry. That makes it harder on good tenants who are struggling to find a decent place to live.

**shark6** · August 19th, 2008, 11:48 AM

Meya, California probably is different. I used to live in a NE state and now in a southern state. In both states, we asked for first, last and deposit. I also took a Landlord's class and read up on my state's laws.

The thing is from a landlord's perspective, according to the laws if you don't pay me my rent, i can't just changed the locks or throw you out. I have to go through a process through the courts which may take up to 30 days or more and all the while someone is living in my place rent free and probably destroying the place.

This is why I always have last months and I always put in thelease that they have to give us 30 days notice of intent to not renew lease begininggin on the last week of the previous month. Just think from my point of view, your lease ends oct 1 but you don't tell me until sept 15.

I need about 1-2wks to get the place tidied up to rent and to place an ad which ususally runds the next week from when the add is placed. So I am not able to show the place until around Oct 15 and in this market it may take 2-4mths to get something rented. It's not fair and the person has violated a clause in the lease for which the penalty is forefieture of the last months rent.

We also put in our clause that the security deposit can not be used towards last months rent.

Renting is seldom a headache free business.

**hjm331** · August 19th, 2008, 12:09 PM

I haven't heard of a land lord asking for all 3. I have heard a landlord asking for first and last or first and security deposits.

Rules may vary by state though.

**Adicus** · August 19th, 2008, 01:03 PM

Since I acquired my first rental property, I ask for first & last months rent upfront that way I wont get burned by my tenants if they decide to skip. I cant complain though, my tenants are the best.

**hjm331** · August 19th, 2008, 02:39 PM

There are abusive landlords who charge late fees if they don't receive their rent by the 1st of the month and keeps on calling everyday like a collection agency asking for her rent. They are very rude and have no heart because they don't care if you are in financial trouble or have enough money to feed your family that night. They don't even need the money, they are filthy rich. What are they going to do with the money once they're gone? Take it with them?

**Meya** · August 19th, 2008, 02:44 PM

That makes since Shark6, also hjm331. I remember back in the days when were all trying to get apts together, they were first, last, and the security deposit was so low (lower than the rent). I have found the Nolo Rental directory and is states what each state can charge state by state.

1. Security Deposit Limits, State by State http://www.nolo.com/article.cfm/Obje...3/178/187/ART/

2. Landlord-Tenant Statutes, State by State http://www.nolo.com/article.cfm/obje...8/213/178/ART/

Shark6, don't you guys have to apy the courts a minimum of $5k to proceed with an eviction? I was at our courthouse when I was trying to file a restraining order on someone and I happened to see a line where it stated "$5k for landlords to start eviction process for tenants", I was like wooooooe! I might be wrong, but I do remember the fee being that much.

**hjm331** · August 19th, 2008, 06:28 PM

That's a little less than 5 months worth of rent. In L.A., a decent 1 bedroom apartment will cost you over $1k monthly in a good neighborhood.

**yoyo11** · August 19th, 2008, 06:45 PM

Originally Posted by cireone

Is there any reason why potential landlords require a first and last months rent on top of the security deposit?????
It can be outrageous. Im trying to get a new place and Ive been getting the same upfront fees from alot of people. Im strapped on funds and cant afford to have $3000 upfront to rent a house and not get any back or just the deposit.

Cireone, i know how ya feel! Here in Chicago, the landlord can charge no security deposit to whatever they want. Some building have specials were they give you one month free rent. Of course your credit has to be perfect...or it's a place you don't want to live in. I've been in the same neighborhood for 11 years..and moved to three places all in a mile radius. My last move was in 03, around the corner and costed me...$2900...this was in 2003. Rent was $800, landlord was asking for one month rent/plus one month sec. My credit was not good so I offered an extra month sec. and got the apartment. Now that I work 25-30 miles away and the cost of living is up...my next move would be very expensive ..with the rent...and hiring movers to move me across town. I'll say if I move to another apartment ..it would be arount $3300 to $3500..that's whay i'll wait to see if I could get that FHA loan...

**shark6** · August 19th, 2008, 10:05 PM

Meya, in the state that I am in now, there is no limit for the security deposit charged and in the state where I use to llive it was 2mths.

Just to be clear, I find that commercial apartment buildings typically don't charge first, last and security. In fact, some apartment complexes will offer you a bond if you qualify.

We owned a townhome, private home and we charge first, last and security. According to themarket and how desperate some landlords are, this will vary.

I researched alot on being a landlord and trust me if the shoe were on the other foot, you would want to protect your invesment. We were not adverse to working with people on breaking up one of the amounts in payments but this was based on their honesty, whether they had a co signer, t heir credit, the income, years on the job and finally whether I believe them or whether I had a bad feeling about them.

**cireone** · August 19th, 2008, 11:08 PM

Thanks everyone for your insight. I have gained knowledge. As for here in AZ, it seems like the landlord has the option of charging combination of two or all three. I have been offered an apartment for $399 move in first month pro-rated if moved in at the middle of the month. I am hesitant to move into an apartment as are family size is a little more than the average adn need all the space and privacy for a reasonable price. Well, I will be looking into a rental management company that a friend suggested. Ihave seen their site online and they have better rates thatn the one Im currently paying. She warned me though that every owner of the house has their preferences so to have other houses as an option. I will update you all.

**Meya** · August 20th, 2008, 01:26 AM

Wow, let's rate this thread, this is good info on all ends. Shark6, I do believe everything you said and I think all will benefit from your input. Cireone, I am so happy that you found a good deal towards what you were working wiht.