Renting question: does this sound reasonable?

Question

Hi,

My husband and I are thinking of renting a townhouse, but the rental terms are a bit stricter than I'm used to. The landlord is requiring the first and last month's rent ($1600 each) up front, as well as an ADDITIONAL security deposit of $1600 up front for cleaning. He will also assess us a $1200 fee if we stay for less than a year.

Does this sound reasonable to you? Would you rent this place? All of the apartments and condos I've ever rented only required the first and last month's rent, with no additional security deposit or lease termination fee. Thanks for your opinion!

Thanks for all the advice. The $1600 security/cleaning deposit is fully refundable at the end of the lease if we don't damage anything, and we get $1200 back if we stay a full year. I'm in San Diego, so this is a good price for the area we want to rent in and the size of the rental, but the fees just so high! =(

Answer 1

I have rented several homes and this sounds very strict and expensive. How is the rental market in this community? If it is very competitive then this landlord has a good chance of getting what he wants. If the rental market has lots of choices and is more of a "renters market" then the landlord may have a hard time getting these conditions met.

All rental/real estate transactions are negotiable and the type of rental market will dictate who has the upper hand. If you really love this place and think it will be difficult to find a similar place, then try to negotiate the terms that are more favorable for you. Otherwise, look for something else with more traditional terms.

Good Luck

Answer 2

It is about as much as he can possibly charge and still get away with it. First/Last is fairly common-- but not asked for as much these days. Usually if they do first AND last, the deposit is not a full month's rent.

An early termination fee is pretty common too, becuase he's asking for a year's lease. Private landlords do this more than apartments becuase 'turnover' hurts their finances more.

As long as you can still get your fulll deposit back if you pay the $1200 early termination fee, its not a rip-off. But if he gets to keep the deposit AND the fee, its excessive.

Ask if you can just pay first + deposit beucase of the lease.

Edited to add: $1600 cleaning ot me, IS unreasonable. I've never paid more than $300 towards cleaning. (often its a $500 deposit with $200 refundable and $300 towards cleaning.)The rest needs to be a refundable damage deposit-- NOT cleaning. That's proposterous to think that he'd pay $1600 to get it cleaned!

Answer 3

Only you can say if it is reasonable.

I have had rented where first/last and security are required. As for the early termination fee, it is arguably legal. If you leave early and he gets a replacement tenant to move in immediately after you leave, you should not have to pay anything, since he is not out any rent by your eparture.

As for whether I'd rent it, to me and where I live, $1600 a month would BUY me such a great place I'd not be thinking of renting! If your rental market said this is a good price, the rules wouldn't bother me (not that I could afford them!)

Answer 4

No, this really doesn't sound reasonable. The costs sound unrealistic on the part of the owner. I wonder how long the townhouse has been vacant. I imagine he has a tough time renting it with the steep costs involved. I think you should listen to your instincts and continue your search for a place that better meets your needs. Maybe you could contact PIRG to have a better understanding of property owner's and renter's rights.

There is also a hotline you can contact:

Susan Turetsky
Landlord/tenant hotline
644 Alta Vista
Santa Fe, NM
505-983-8447
1-800-348-9370 Residential landlord-tenant issues (not commercial)

In New Mexico, the landlord is required to maintain minimum housing standards-including ventilation system in safe working order. Currently no landlord licensing for any of NM. Susan is currently working with the city council to get a licensing office in Santa Fe.

Or you could try:

New Mexico Attorney General's Office, Consumer Protection Division Landlord-tenant brochures (and other brochures) are available by mail. You can order them through http://www.ago.state.nm.us/Publications/brochures.html

Address: PO Drawer 1508
Santa Fe, NM 87504-1508
Phone: [phone]
Fax: [phone]
http://www.ago.state.nm.us/Protection/consumer_protection.html

Good luck finding a great place to live!

Answer 5

I've seen it before, but not that often. The only way landlords get away with this (usually) is in a HOT market, where people really want to rent and it's hard to find a good place. Otherwise, I would guess you can find a more "normal" landlord willing to do one month rent, + security deposit, and no termination fee.

Answer 6

First & last month rent and deposit isn't unusual. If he wants $1600 for cleaning then its more of a maintenance fee than a security deposit, which is common with condos.

I'd find a mobile home park nearby and look for someone selling their mobile home. Then buy it and enjoy the cheap lot rent. Bet you get as much space as your average condo if not more. And you get a yard.

Answer 7

I don't know where you live (or will be renting), but it sounds excessive to me. I just paid first and last with security and cleaning of half a month's rent plus $300 for a pet deposit in Dallas, Texas for a one-year-old three-bedroom house, which seems to be pretty standard around here.

Answer 8

Where I live, first/last/security is the norm. I've not heard of the early departure fee, though.

It's really up to you if you like the townhouse. Trust your instincts as to whether you want to be associated with the landlord.

Answer 9

renting a room should include all that if sharing the house all those costs should be split 3 ways(ask to see the bill's to work out your share)

Answer 10

honestly, i don't think it sounds reasonable. that is way to much money. unfortunatly, he can do that. i think if you and your husband really like the home, and you plan to stay for a while, (over a year obviously) then you should take it. if you question it at all, don't do it! just remember there are always other houses, so unless you are positive this is the home for you, don't take it.