Lease in New Hampshire

[Dustin Senor]

Hello BP Community,

You all have come through for me in the past, so I'm hoping you can help me out again. 

Two questions... Does current land lord tenant law prohibit me from asking for first, last ad security?

Also, does anyone have a iron-clad lease? I am willing to pay.

Thanks!

Dustin

[James S.]

NH law says a security deposit can be $100 or up to one months rent, whichever is higher. (It obviously hasn't been updated in a while, hence the 100  bucks). 

The only exception are the single family landlord who owns no other property, and owner occupied properties less than 6(I think) units.

[Dustin Senor]

Right but what about asking for last months rent as well? Does NH consider that part of the security deposit?

[James S.]

Originally posted by @Dustin Senor:

Right but what about asking for last months rent as well? Does NH consider that part of the security deposit?

 
From NH's point of view, ANY money you collect that is not the first month's rent up front is considered a security deposit. So in this case, yes the last months would be considered part of the deposit, and would violate NH statue. 

Here is the link to the statue, and the relevant part of the text is below....

540-A:6 Procedure. –

I. (a) A landlord shall not demand or receive any security deposit in an amount or value in excess of one month's rent or $100, whichever is greater. Nothing in this section shall prohibit a landlord from entering into a written lease that requires the quarterly or less frequent payment of rent; provided, however, that the security deposit received in addition to the initial rent payment may not exceed the equivalent of one month's rent. 

[Dustin Senor]

Thanks so much, James. We need to lobby the house and senate to get this insanity changed.