I’m residence sport so Im seeking during ads in journal as well as pennysavers as well as i would see ads something similar to twenty + sec (i pretence that’s confidence deposit)
so what just is the confidence deposit. Is it similar to the servant price thingy? as well as is it similar to the a single time fee?
Its money you give when you sign a contract but the money is still yours, and (depending on the jurisdiction) the landlord may have to pay you interest on the money while he holds it. When you leave the landlord will typically wait a few weeks or so and confirm that there are no outstanding utility bills and will also check if there is any damage to the property (holes in the wall, carpet stains, etc – anything beyond normal wear and tear). If there are any of these expenses he will subtract these costs from the security depoist and send you the remainder plus an accounting. If the expenses are more than the security deposit he can charge you the difference (but may just forget it figuring its not worth the extra effort).
Finally, if he needs to evict you or you leave on your own without paying all rent he can also subtract this from any security deposit owed.
Good luck.
it’s a one-time thing so that if you damage the property, or run out without paying rent, the landlord has at least some money to fix the damage or cover the rent you didn’t pay. a security deposit is usually equal to one month’s rent. if you stay the length of the contract and don’t damage the property, the deposit must be refunded to you.
Best wishes!
You’re lucky it just says that and not 1st month, last month & security. It is a one month rental fee equal to the rent amount.
It’s basically like good faith money and it is a one time fee. You give them a set amount of money and they hold on to it until you decide to move. They give it back at the end of your lease, when you move out, if the apartment is in the same condition it was in before you rented it.. They keep it if you have damaged the apartment. (This should not apply to normal wear of the carpets and stuff like that- it’s basically for holes in the walls, broken doors, broken appliances, etc…)
It’s pretty safe to say that the security deposit should be no more than the amount of the rent. So if this was the case, if your rent is $1500 a month, you would obviously pay that and then if they required a security deposit equal to the amount of rent, you would pay an additional $1500, which would be cashed, put into their trust account and refunded to you at the end of your lease. So you would be paying $3000 total. But many places will charge around half of the rent cost, so you may be only paying $500-$750 for the security deposit.
You may also have to pay an additional deposit for pets. Around here it’s normally like $300 or so. If you have a cat or dog, you can expect that most places will charge this in addition to the normal security deposit.