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Updated almost 8 years ago,
Is 2.5 months rent too much for security deposit???
So we are about to close on our first 6 flat building and when speaking to my banker (who is also a REI), she stated that she requires 2.5 months rent for her security deposits, because we live in Cook County and evictions could take 6 months. I really feel like the 1 months rent is pretty standard for our area, but I do see her logic and it seems like it makes good sense. What do you guys require???