2007-11-14 03:00:27 · 11 answers · asked by sunshine 3 in Business & Finance ➔ Renting & Real Estate
It is not, but you must not exceed twice the rental price for your deposit unless the tenant has a water bed, then its 2 1/2 times the rents asked.
utility deposits are separate...something reasonable.
2007-11-14 03:19:26 · answer #1 · answered by ticketoride04 5 · 2⤊ 0⤋
It is against the law here in MI. You can only charge 1st month rent and deposit OR fist and last month. And the deposit can only equal to 1 1/2 times the rent and no higher.
Most people, especially now in this economy, cannot afford more than a deposit and the first months rent.
2007-11-14 03:09:34 · answer #2 · answered by kimmamarie 5 · 1⤊ 0⤋
No it's not against the law, most rental units charge 1st last and security it's common practice.
2007-11-14 03:07:05 · answer #3 · answered by Weimaraner Mom 7 · 0⤊ 0⤋
Nope that is perfectly legal and very common. The only problem is someone coming up with all that money at once. A alternative is 1st mo and security.
2007-11-14 03:03:21 · answer #4 · answered by daddyjohndeer 5 · 2⤊ 0⤋
Against the law? Isn't it standard practice in almost all states?
2007-11-14 03:02:34 · answer #5 · answered by Meghan 7 · 1⤊ 1⤋
no its not against the law.
2007-11-14 03:02:31 · answer #6 · answered by howie r 5 · 0⤊ 0⤋
i dont know about CA but its not in minnesota
2007-11-14 03:02:49 · answer #7 · answered by Loreen W 2 · 0⤊ 0⤋
Nope ... as long as you make intent known in the lease its OK.
2007-11-14 03:02:56 · answer #8 · answered by Elana 7 · 1⤊ 1⤋
No. This is standard nationwide.
2007-11-14 03:37:01 · answer #9 · answered by Anonymous · 0⤊ 1⤋
No it is not.
2007-11-14 03:04:52 · answer #10 · answered by godged 7 · 0⤊ 0⤋