Chit Chat
Options

Question about renting an apartment

My roommate and I want to rent our first apartment starting in May. We are thinking about putting down a $100 holding deposit it down. Does anyone know how far before our move in date we would actually have to put down the security depost and physically sign the lease? Obviously it probably varies for every complex but i'd just ilke a general timeframe

Re: Question about renting an apartment

  • Options
    hbatchel2hbatchel2 member
    First Comment First Anniversary
    edited December 2011
    Every apartment I've rented has required the deposit be paid when the lease is signed. I've also heard of them requiring first month's rent at the same time as well, so thats something you should make sure you're prepared for.

    Also, every apartment I've rented except one had a security deposit that was equal to one month's rent.

    As for how far in advance you sign, it really just depends on the place and what they have available and if they would be willing to hold a place for you for a period of time.
    image
    Follow Me on Pinterest
  • Options
    Every apartment that FI has rented requires a deposit to hold the apartment and then when you move in you sign the lease and pay the rest.
    image
  • Options
    I want to say we paid our security deposit and signed the lease about a month before we moved in?  I don't really remember.
    image
  • Options
    It probably depends on the specific apartment complex/landlord and how in-demand the place is.    If it's extremely popular, then you may need to reserve an apartment a few months in advance (which would mean at least a deposit, depending on the specific complex).   If they have plenty of open apartments, you could probably sign a lease and move in in a matter of days.

    Your best bet is to start looking at places and see what their specific policies are.  Make sure you read all leases THOROUGHLY before you sign anything:-)
    DSC_9275
  • Options
    It also depends on where you are and how much demand there is.  In our area, you have to put down first month's rent and the deposit, but the deposit is not usually as large as the rent, and you can often find specials where they wave the deposit, but that's usually a certain time of year.  At the same time, I've heard in some areas it's normal for apartments to demand a deposit that exceeds a month's rent.

    If I were you I'd assume it's all due at once, but I'd research how large deposits generally are... plus if you have pets, it's going to be bigger!
    My blog
    image
    "I will greatly rejoice in the LORD, My soul shall be joyful in my God; For He has clothed me with the garments of salvation, He has covered me with the robe of righteousness, As a bridegroom decks himself with ornaments, And as a bride adorns herself with her jewels." -Isaiah 61:10 NKJV
  • Options
    AdeleDazeemAdeleDazeem member
    First Anniversary 5 Love Its Name Dropper First Comment
    edited December 2011
    Hmm... I've rented apartments in Boston and Philadelphia (the centers of these cities).

    Generally, I filled out an application and sometimes paid a small deposit.  They did a credit check and double checked employment.  Once I was approved, I signed the lease and paid first/last/security (equal to one month's rent) the day I signed the lease.  It's a lot of money upfront.  This usually all happened with 2 - 6 weeks of moving into the apartment.

    Some places just do first and security or the security is smaller.  Depends really.

    Good luck!!
  • Options
    In my experience, when you put the hold down, you also select a date for move in.  Once you have the hold, you can sign your lease, pay security deposits, etc. at any time until the move in date.  Though I would advise signing a few days before your scheduled move-in date to eliminate extra hassles during move-in.
  • Options
    I've never signed a lease more than a week prior to moving in.

    Do a walk through of the actual unit you'll be moving into with the apartment manager/owner before signing anything.
This discussion has been closed.
Choose Another Board
Search Boards