2doggycats, Home Buyer in 02115

How much do I pay for a security deposit?

Asked by 2doggycats, 02115 Sat Feb 11, 2012

I was looking for an apartment in CA and I saw a landlord asking for a $2000 security deposit when the rent is only $1695. I thought that the security deposit could not exceed the cost of the apartment.
Is this true? What is the limit on a security deposit fee in CA?

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Answers

2
It is a good idea to NOT have the security deposit and the rental amount the same. As a landlord, I want tenants to understand that they are entirely different things, that they will get back their security deposit, with interest, if they turn the place back over to me in the same condition as in which they received it. And I don't want them to think they can use it as the last month's rent. If I get into that habit, I could inspect a place after they vacate and find damage done and will no longer have the security with which to repair it. It is important to make these things absolutely clear at the beginning of the tenancy.
0 votes Thank Flag Link Sat Feb 11, 2012
I have never seen a "legal" limit;
I have seen that people with pets have to pay more, understandingly so.
Knock on a few doors; get to know your future neighbors and talk to them.

Does the $2000 include the last month's rent?
Does the Landlord have a rep of holding back the deposit?

Good luck and may God bless
0 votes Thank Flag Link Sat Feb 11, 2012
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