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Updated over 12 years ago on . Most recent reply

Albert Rubio's profile image
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Albert Rubio
  • from Amarillo, Texas
  • Member since Jul 25, 2012
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Albert Rubio's profile image
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Albert Rubio
  • from Amarillo, Texas
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Albert Rubio
  • Amarillo, TX
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General Landlording & Rental Properties

Deposit amount?

Albert Rubio
  • Amarillo, TX
Posted

Best way to determine a deposit for rental property? SOme say a months rent seems high for a $800 a month rent. Or a percentage of the rent. We plan on not allowing pets. Whats your opinion?

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Ibrahim Hughes's profile image
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Ibrahim Hughes
  • Real Estate Consultant
  • from Bloomfield, NJ
  • Member since Apr 29, 2010
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Ibrahim Hughes's profile image
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Ibrahim Hughes
  • Real Estate Consultant
  • from Bloomfield, NJ
  • Member since Apr 29, 2010
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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
Replied

By 'deposit' you mean a security deposit? What's the norm for your area? Here in NJ, 1 - 1.5 months is average. If they can't afford a month's extra rent they don't belong there.

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