What happens to your first, last months rent, and deposits when you sign a new lease agreements.?

Answer 1

That all depends on your state's housing laws. I used to be a property manager of a 44 unit complex, and all my boss required was a deposit for securing a unit for rent. The first, and last month's rent is used for rent, as most renters require the first month's rent prior to move in, unless he/she is running a renter's special, such as first month free or something. Last month's rent may be used in the event that you move out prior to your lease ending. The deposit is a fund that is used to make required repairs or renovations to the unit in case you cause damage or disrepair beyond normal wear and tear to the unit. What I always did is tell people when they asked what the deposit was for was that the deposit was a fund that we used in the case of carpet cleaning or repairs beyond normal wear and tear. Most reputable renters will disclose this information to you upon request. You have to be VERY VERY watchful and make sure that UNDERSTAND EVERYTHING before signing a lease agreement. If the manager or property manager cannot give you proper information regarding the lease and/or rental provisions, then they may not be the place where you wish to live. If y6ou have questions about the non-standard rental provisions or lease, make sure that you consult with your state or county housing codes or cunsult with your local housing authority who can they speak with you regarding this info, or point you to someone who can answer your concerns.