Is the Security Deposit OK for the Final Month’s Rent?

By Juliana Torres-Mason

Renters transitioning to a new home have a lot on their minds when it comes to closing accounts, changing their addresses and paying new bills. As the costs of the move pile up, they may be tempted to skip paying the last month of rent. After all, can’t the security deposit cover what is owed?

The short answer is a resounding “no,” said real estate attorney Evan Rosenberg with the Florida firm Ritter Chasid

While renters may have paid the cost of a full month’s rent as a security deposit, the purpose of those funds is to cover any damages the renters left behind. The security deposit was rarely if ever intended to be applied to the last rental payment.

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Renegotiating the Rent Rate

By Nikki Davidson

When tenants prepare to sign a new lease, they may assume the price quoted by a landlord isn’t up for debate. In reality, rent can be just as negotiable as the salary or benefits package that comes with a job offer. A reduction of hundreds of dollars off the monthly payment could be warranted. 

There are several actions potential tenants can take to increase their odds of getting a better deal. However, persuading a landlord to drop the price can be tricky. 

This article will discuss why landlords sometimes grant rent reductions and the best way to ask for a price cut without jeopardizing a potential dream home.

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