Thursday, March 16, 2023

Last Month’s Rent

The concept 'first and last month's rent plus security depost' is confusing when speaking with landlords.

Rent is due when it is due for the time that it is due. 

The concept is really just a landlord's slimy way of attempting to pad their pocket with money before yielding the service.  We believe the concept came from ignorant professionals who confused the fact of law relating to security deposits. 

A Landlord may require a security deposit.  The security deposit cannot exceed the sum of  two months rent after the first year.  After the first year, the landlord must remit to the tenant the part of the deposit minus any damages and keep no more than a sum of one month’s rent in the security deposit account.

No comments:

Post a Comment