Rental Market Tight? Security Deposit??
Started by spaceboy
almost 19 years ago
Posts: 217
Member since: Mar 2007
Discussion about
My friend was just asked to put 3 months security deposit down for an apartment. Is this normal?? I thought the standard was first month, last month and one month security deposit.
there is a discussion about what you need for a rental here..
http://www.streeteasy.com/nyc/talk/discussion/1553-moving_to_NY_from_CA_
Yes but I'm asking specifically if the norm has changed from first, last, 1mon security to 1mon rent + 3 mon security. When I rented several years ago, it was first, last, 1mon security.
I dont think that the norm has changed.
I've always put down one month security and first month's rent. I think (but I could be wrong) that it's illegal to ask for more than 1 1/2 months security.
I ask for two weeks security does that mean I need to go to jail.
Three months security is becoming the norm. I was asked for three months and when I asked why they said that it takes 3 months to evict a tenant for failure to vacate an apartment.