I live in pa and thought that after the 2nd yr I could apply this to the last month of the second year since i am staying for a third. Pa LAw prevents holding a security dposit of more then 1 month after yr 2 of a lease. But the law says nothing about the final months rent??/Its a legal gray area
2007-12-27 16:53:56 · 5 answers · asked by christopher c 1 in Business & Finance ➔ Renting & Real Estate
It is exactly what it implies. It is for the last months rent in the event that you decide to move away.
2007-12-27 16:58:16 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If your not sure, just go into the office and ask, that's what we are here for. I think your first and last months rent stands for a security deposit and your first months rent.
Usually if you're just renewing, you will not get back your security deposite until you move out, and that depends on what they will have to fix over and above normal wear while you were living there. If you made major holes (big) in the wall, don't count on it, as some of that money will be used to fix the damage. We have up to 30 days to give you back your security deposite minus money for damages, you will get what is left over, because we will look over the apt. for damages after you leave before we send you a check.
2007-12-27 17:12:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The last months rent is in escrow or whatever account the landlord wants to put it in. It pays your last months rent you don't get it back. Security deposit is held for the full time you live there no matter how long that may be.
2007-12-28 17:00:43 · answer #3 · answered by Classy Granny 7 · 0⤊ 0⤋
It is not a gray area at all. The last month is not the last month of your occupancy, but the last month of your contract (lease). You have to use it or lose it. Don't let your landlord tell you otherwise. It should all be spelled out in your lease.
But don't blow the rent check at the casino because you will likely have to come up with another "last" month when your landlord makes you sign a new lease.
2007-12-27 17:02:46 · answer #4 · answered by linkus86 7 · 1⤊ 0⤋
That doesn't sound right. A security deposit should be there when a tenant moves out to cover damages. I don't understand why a landlord wouldn't be able to keep it for the length of the tenancy. Glad I don't live in PA. I'd have to ask people to move every two years. . .
2007-12-27 17:17:14 · answer #5 · answered by towanda 7 · 0⤊ 1⤋