Rent

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Replied by shark6 on topic Re: Rent

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
15 years 9 months ago #46
  • cireone
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was created 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.
15 years 9 months ago #47