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Updated about 8 years ago,
Security Deposit is not 1 month's rent in TX?
Hello All,
I recently moved to Midland, TX from Washington DC where I own a four-plex. The standard security deposit there is one month's rent and that's what I've always charged my tenant. My husband and I just purchased a duplex here in Midland. I added the Security Deposit as one month worth of rent in the ad and my husband shared that this has not been his experience in TX. The two rentals that he lived in before I moved here had the security deposit as a lower amount than the one month rent.
I'd like to get some clarification on this as I do not want the SD to be a barrier in getting applicants. Is the SD a certain percentage here? Thanks.