DEPOSITS

Deposits are required by landlords to show intent to lease, with the equivalent of one month rent typically used when entering into a contract to lease.

When all terms are agreed to and lease has been executed, second deposits may be required.

These will be last month's rent and security deposit or the balance of same.

In some instances, if property is new or has been substantially remodeled landlord may ask for two months rent security.

Security deposits are NOT used as last months or payment for a month's rent.

Condominiums are now beginning to require one month security for common elements. This may constitute four months of deposits.

• How deposits are held is governed by the Landlord Tenant Act
• Deposits are held in escrow until date of occupancy
• Deposits must be cleared funds prior to occupancy

Remember if you will be sharing your abode with a pet (and I don't mean the boy/girl friend type) most landlords will require a non-refundable pet deposit.

NOTE; if any landlord asks for final deposits ahead of you taking possession…..get a new landlord.

If have any questions drop me a note at javiergonzalezpa@bellsouth.net or call me at 305.582.5085