Quote:
Originally Posted by Esel Mann
Credit/employment check with $50 non-refundable fee (or whatever the going rate is now), followed by first month, last month, deposit, and pet deposit (if applicable).
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Quote:
Originally Posted by motion
Wow, you must live in an owner's market. Those kind of $$$ upfront requirements would never fly in Albuquerque. Tenants will move out of the home if you raise the rent by $50 a month.
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Assuming the security deposit is equal to one month's rent, those move-in costs wouldn't fly here either (first + last + security deposit + pet deposit), and you wouldn't be allowed to request/require that much. Here you can only collect up to 1.5x base rent in "deposits" so it's typically first month's rent + security deposit, which is equal to 1 month's rent. You can tack on a cleaning and/or pet deposit as well, but must keep everything considered to be a "deposit" under 1.5x rent. The loophole here is with "fees". You can charge non-refundable cleaning and/or pet "fees" that are not considered in the 1.5x calculation. Also, there is nothing here that forbids tenants from volunteering additional up-front rent, but it should be clearly articulated in writing that it is NOT a requirement or condition of acceptance to lease by the landlord.