Do you really need three months’ rent to move into your first apartment?

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A question :  My family members are driving me crazy and I need my own space. I can’t deal with them anymore.?

Answers

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one month is the normal; not three. The landlord receives the last month’s rent in advance so that, if you fail to make your payments, he can start the eviction process knowing that he has a 30-day buffer. Certified funds are required for the first month’s rent, the security deposit, the key deposit, the administrative fee, the pet deposit (if applicable), the cleaning charge/deposit, and any additional fees/deposits. The security deposit is typically equal to one month’s rent.

Vaor

“At most places your income must be at least 3x the amount of your share of the rent. Usually, a person must pay the first month’s rent plus a security deposit. The amount of the security deposit can vary considerably. I’ve heard that some places want the last month’s rent before you move in as well – probably if you’ve never rented before.

You can probably get a lot of information online – just query apartments in (name of your city and state).

Your best bet would be to get an apartment with responsible people you know as opposed to renting with strangers.”

Judith

“Combining first month, last month and security deposit, it is possible. I’ve never paid a security deposit more than a half month’s rent so I’ve never paid more than 2.5 times rent to move in.

Remember that most people move from somewhere else. They paid their last month’s rent at their previous place a long time ago so they have the money to move in.

Living on your own is not cheap. it is not supposed to be cheap. Frivolous reasons are not enough to move.”

Doug

“It all depends on the area you want to rent in. If the town/city is medium size to large…. a landlord can demand first and last month’s rent plus a huge deposit. In small rural farm towns…. they are more lax about it.00”

Linda

“You need a lot more than that. The three months you are referring to is more like three to four, closer to four months and that is the income you need to make in order to qualify to rent. 3 – 4 times the amount of rent. So, if your monthly income is $4,000 then you will qualify to rent an apartment that rents for $1,000 a month, maybe one that rents for slightly more.”

babyboome, Certified Paralegal, with 25+ years’ experience & with Landlord & Tenant law experience.

“you need 1st and last and the security deposit as well as a monthly income of

3 times the amount of the monthly rent payment. You must show 2 weeks of

pay stubs to prove it and have no debt.”

“if you don’t have a job and the money runs out in 3 months you will then be looking for a place to live

you need enough money to move out and a job to keep paying the rent”

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