Apartment Rental Security Deposits

 

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Security Deposits - Security deposits range from $100 to a full month's rent, most commonly being approximately $250. Some apartments require separate deposits for roommates. Credit application fees are generally $10 - $35.

 

Verifiable Income - Verifiable gross monthly income at least 3 times the monthly rent. Fore example, a rent of $500 would require a minimum of $1,500 gross monthly income.

 

Credit Check - We advise the client that a credit check will be conducted by the apartment community or management company representing the community.

 

Rental History - Any previous apartment rental history will be verified and mortgage payments may be included as rental history. Additionally some communities are also conducting criminal background checks.

 

Lease - All apartments require a written lease. Lease terms are typically 6 to 12 months. Most leases are written for 12 months. Shorter lease terms are available at premium rates.