Thursday, June 19, 2014

Ask an Agent: When is my deposit due?

The time to figure out how much money will be due is BEFORE you sign the lease, not after. The last thing you want is to find the house that you want, spend you application fee, and then lose the property because you didn't know when deposit money would be due!

Usually, when you rent the house, the schedule for money due is as follows:

Due Date Breakdown
Lease Signing Lease Deposit
Lease Signing Pet Deposit
Before Move In Full Months Rent

Of course, there is some flexibility with in these guidelines, but generally the full deposit is due before move-in in "guaranteed funds," usually a cashier's check, money order, or wire.

If you need a payment plan that is set up a little bit differently, be up front with your agent about it. The last thing we want is for you to get into a deal you can't afford. The biggest thing is that the landlord needs to know when to expect your payment, and usually are willing to work with you if you are up front about your situation.

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