2006-06-29 10:29:19 · 6 answers · asked by Ericka H 1 in Business & Finance ➔ Renting & Real Estate
I work in rental property and we only charge a security deposit once upon moving in. You need to read your lease FULLY. There should be a clause about your deposit, but under normal conditions you should'nt be charged when renewing.
2006-06-29 10:36:02 · answer #1 · answered by iregirl2380 1 · 2⤊ 0⤋
If the rent has gone up with each renewal, and if the landlord is allowed by law to get a percentage of the rent as a security deposit (such as 1 1/2 months), then the landlord is entitled to ask for the "increase" in the security deposit.
If your rent in the first year is $500 per month and the security is $750, and if the rent goes up to $600 in the second year, then the landlord is entitled to ask for another $150 for the security deposit to make the deposit a total of $900.
2006-06-29 18:35:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Check with your local Real Estate Board about the current laws governing rentals
2006-06-29 17:52:02 · answer #3 · answered by ROBERT C 1 · 0⤊ 0⤋
I never heard of that before.Contact an real estsate atty.abuot this matter.Good luck!
2006-06-29 17:35:02 · answer #4 · answered by uvette77 3 · 0⤊ 0⤋
NO thats extortion.
2006-06-29 17:33:54 · answer #5 · answered by malo281 2 · 0⤊ 0⤋
no!
2006-06-29 17:33:51 · answer #6 · answered by eric92065 3 · 0⤊ 0⤋