Can a landlord ask for first and last month rent plus security in Florida?
If you ask for last month’s rent in addition to the deposit, you’ve created an earmark on those funds such that they cannot legally be used for another purpose. Florida has absolutely no limits on security deposit amount, and they allow use of a security deposit to pay for penalties and for unpaid rent.
Can a landlord ask for first and last month rent plus security in New York?
Landlords can’t ask for ‘last month’s rent’ plus security deposit, thanks to new rent laws. Your security deposit is not supposed to be used as last month’s rent. It is now illegal in New York state for landlords to require you to pay last month’s rent in addition to a month’s security deposit when you sign a lease.
What is a security deposit on a rental property?
A security deposit is a one-time, refundable sum of money a landlord collects from a tenant in addition to their first month’s rent. Collecting a security deposit is not required by law, but it can help protect you financially if a tenant causes damage to a rental or leaves unexpectedly without paying rent.
Can a landlord ask for a security deposit before moving in?
A landlord, at minimum, will most likely expect you to pay your first month of rent before moving in. But landlords may also ask for a security deposit and request that you pay your last month’s rent before agreeing to rent to you. A security deposit is usually equal to one month’s worth of rent, but may be less.
Can a landlord label a deposit as last month’s rent?
Answer. For this reason, it’s rarely in a landlord’s interest to label deposits as the last month’s rent. Far better to collect a deposit that is at or below your state’s limit, and label it simply as a deposit (which you can use to remedy damage, perform necessary cleaning, and cover unpaid rent).
How long does a landlord have to return a security deposit?
Each state has a specific law about how long landlords have to either return security deposits or identify reasons for keeping it. Some set the limit at 15 days after the lease has ended, while others give you up to 30 days to return the deposit or to give a tenant written notice as to why it was not returned.