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Posted on 8/18/16 at 2:42 pm to AU_251
Yeha mine was equal to one month's rent. It is a bitch to pay double, but once you pay it once, you usually just roll the returned deposit over to the new deposit when you move the next time.
Posted on 8/18/16 at 2:49 pm to StringedInstruments
quote:
New York City has some strange rules too I think. I didn't look into it, but I spoke to a girl trying to get an apartment in Manhattan and she was scrounging for $8000 just to secure the lease.
Not surprising
Consider:
First months rent- $2000
Security deposity- $4000
Brokers fee- at least one month rent, I have heard of upwards of 15% of annual rent~ $3600.
Total: $8000-$9600
Posted on 8/18/16 at 2:49 pm to AU_251
Yes. In fact, it's sometimes equal to first and last month's rent (i.e., 2 months)
Posted on 8/18/16 at 2:50 pm to boosiebadazz
But isn't it illegal in La for a landlord to use a security deposit for rent owed? I haven't leased in quite a while but I recall something about that. I thought they had to use it for unreasonable wear and provide a breakdown of the charges?
Posted on 8/18/16 at 2:57 pm to AU_251
Yes. I thought that was the norm. Some people charge first, last and a deposit, which are all equal to the monthly rent.
Posted on 8/18/16 at 2:58 pm to AU_251
It's at least 8-10k upfront for an apartment here....consider your self lucky.
Posted on 8/18/16 at 3:05 pm to AU_251
Yes, so that when you abandon the apartment the landlord doesn't miss out on a month's rent getting it re-rented. And you are lucky if that is all they are asking. It would be much smarter for a landlord to demand two months rent as a security deposit to actually cover any damage and the rent when that happens.
Posted on 8/18/16 at 3:10 pm to AU_251
Why don't you buy a house? $1200 is enough to get you into something decent that you will at least own.
Posted on 8/18/16 at 3:14 pm to USMCTiger03
quote:
But isn't it illegal in La for a landlord to use a security deposit for rent owed?
Its illegal most places I believe, as they are essentially liquidated damages for separate obligations of the lessee.
Posted on 8/18/16 at 3:47 pm to dnm3305
down payment for me. i could get a badass house in AP for what I pay in rent. Don't want to pay PMI while I'm in school though, plus the cost of maintenance/repairs would be a lot to handle as a student. He could also have plans to not live near wherever he is going to school once he gets out
Posted on 8/18/16 at 3:50 pm to AU_251
Yes
Posted on 8/18/16 at 3:51 pm to AU_251
Don't ever move to NYC. You'll be looking at first mt rent + last mt rent + broker fee...moving into a studio in the east village will cost you around $5k upon moving in.
This post was edited on 8/18/16 at 3:51 pm
Posted on 8/18/16 at 4:03 pm to AU_251
quote:
$1200
You're paying too much. You could get a house on the river here for that.
I rented a lake house (with boat house) in college for $500/mo. House was old and not that nice but the lot(s) would go for over $300k.
Granted that's the exception, but I would never pay a grand or more a month in rent unless it was NYC or some shite.
You say your are poor and need to rent then say you're renting something for $1200/mo. Sounds like you're stretching yourself too thin.
Posted on 8/18/16 at 4:09 pm to eScott
quote:
They have $99 move in specials in the poor areas.
Oakleigh for the win, Bitches! Wear rubbers or stay married, kids. 30k a year after taxes is alot of money to give Catholics and exes.
Posted on 8/18/16 at 4:15 pm to dnm3305
quote:
is enough to get you into something decent that you will at least own.
Exactly. My mortgage is not much more than that and it is a 2,500 sq ft 3br 2.5ba with a full basement. About 4k sq ft if you add that in. I never paid more than $650 for rent in college and that was on a duplex with 2/2 and tile floors and solid countertops. I only paid $850 for the first apartment after I graduated and started work. Once you near a grand a month in rent it makes more sense to buy something, even a condo or townhouse, and get the mortgage deduction on your taxes.
Posted on 8/18/16 at 4:17 pm to AU_251
For the past two houses I rented, yep.
Posted on 8/18/16 at 4:34 pm to whodatdude
One of my tenants just moved out. Her rent was $1000 per month...her deposit was $1000....she did $2000 worth of damage. I lost on that deposit game.
Posted on 8/18/16 at 4:49 pm to SG_Geaux
quote:
You are lucky. It is often first and last month's rent.
How is this different than first month's rent x2?
Posted on 8/18/16 at 4:50 pm to AU_251
Pretty standard, actually
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