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- Are you charging security deposits? If so, how much?
Topic: Are you charging security deposits? If so, how much?
Be careful about what you decide to do here. For example, here in Austin, students are a protected class, therefore an additional deposit requested for students as described by another comment on this thread, could be considered a fair housing issue. Check with your local counsel for guidance
Posted 5 years 1 month ago
Our rent is $500 and our deposit is $500. Very few actually get it all back. People are so hard on things, and most so far have not cleaned at all before leaving :/ However, in the 2 years I've owned my 8-plex, most of the turnover are people that have been asked to leave, so my expectations have been low.
Posted 5 years 1 month ago
$300 with approved credit and One Months Rent for conditional credit. We just bought the property I'm at so right now people are getting almost all of their deposit back bc previous management had neglected the property so bad. The thing I see the most that we have to charge for is people leaving furniture behind.
Posted 5 years 1 month ago
we charge a minimum of one month's rent for a security deposit. Sometimes more depending on credit and/or background check. We hardly ever refund 100%, maybe a quarter of our residents get something back. Most have damages or unpaid rent so we deduct that not leaving much left. For pets, $300.00 nonrefundable deposit.
Posted 5 years 4 weeks ago
