Question about renting an apartment

kdaniels29 · December 2011

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

hbatchel2 · 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.

crash2729 · December 2011

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.

kcscejal · December 2011

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.

Avion22 · December 2011

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:-)

RyansBelovedBride · December 2011

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!

AdeleDazeem · 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!!

smiatrow · December 2011

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.

AshnRobo · December 2011

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.

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