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What to pay when signing the lease?

By Tenant

Finding the right rental unit and signing the lease for it is a reason for celebration to many. You can now sit back, relax and look forward to moving in to your new home, knowing that all your efforts had paid off and your apartment search is now finally over. Finding an apartment also means that you now have to open up your wallets and hand over some money to pay for the unit that may even total to like twice or four times the monthly rent.



Listed below are the items you have to pay by the time you sign a lease agreement.

  • Security Deposit. The amount to be paid as a security deposit varies in many states. Even though it varies, the most a landlord should ask for a security deposit must be equal to one or two month’s rent. Don’t fret though because you can get your security deposit back at the end of your lease that is if you did not caused any major damages to the apartment unit that is way beyond normal wear and tear.
  • Advance Rent. Upon signing the lease agreement, the landlord can ask for the first and last month’s rents. It may seem too much since you already paid for the security deposit but remember that you already signed the lease so you have to pay for monthly rent anyway. Just think of it this way if you have a year lease then you no longer have to pay the 12 months, you would just have to pay for the remaining 10 months of your lease.
  • Other fees. Other fees include application fees and deposits for other items. Such fees may be refundable by the time the lease expires. If you are renting with a pet then pet deposit and pet charges are requested upon signing of lease.

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Edited on: Saturday, March 23rd, 2013 1:08 am
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15 Responses to “What to pay when signing the lease?”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Sabrina

March 23rd, 2013 1:20 am

Can I contest to the amount the landlord will ask as a security deposit?

Monroe

March 23rd, 2013 12:40 pm

Before signing a lease agreement the landlord asked that we should pay for the security deposit first. Can he do that?

Len

March 24th, 2013 12:00 am

Is it legal for the landlord to ask for 2 months’ rent in advance before signing a lease agreement?

Dalton

March 24th, 2013 11:20 am

I want to move to a new apartment but I cannot afford to pay all the charges the landlord asks. Is there a way where I can move in without having to pay for 2 months’ rent in advance?

Bradford

March 24th, 2013 10:40 pm

In a landlord’s point of view we are just making sure that the tenant will really move into the apartment that is why we are asking for the security deposit.


Marjorie

March 25th, 2013 10:00 am

The landlord will not take his property off the market even though you already laid your interest in the apartment until you could give him a holding deposit and a lease is signed.

Laci

March 25th, 2013 9:20 pm

Giving a holding deposit doesn’t necessarily mean that the apartment is yours. Some landlords would only give like a week tops for the tenant to pay the deposits and sign the lease or they give the apartment to someone else who can pay for the deposits.

Chuck

March 26th, 2013 8:40 am

You may think that it is unreasonable for the landlord to ask for too much advance rent

Moses

March 26th, 2013 8:00 pm

I have spent months looking for a nice apartment and now that I have found it I will not let security deposits hinder me from moving in.

Hermelinda

March 27th, 2013 7:20 am

Can I get my last and first month’s rent back if I decided to terminate my lease early due to black mold problems in the apartment.

Jesusa

March 27th, 2013 6:40 pm

Landlords usually ask for the security deposit to be like equivalent to the cost of the rental unit in the market.

Julius

March 28th, 2013 6:00 am

It may seem unfair that you cannot move in to the place that you always wanted due to your lack of income. But you just have to face it

Zola

March 28th, 2013 5:20 pm

If you think that the landlord is overcharging you for the deposits then you might as well look for another place to live.

Shantay

March 29th, 2013 4:40 am

Before paying anything to the landlord check your state laws first to know if the landlord is not overcharging you with anything.

Isobel

March 29th, 2013 4:00 pm

Don’t be dumb enough to agree with everything the landlord is asking you to pay before moving in if you are a first time renter. He will overcharge you with everything is that happens.

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