Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Local Real Estate Networking
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

27
Posts
3
Votes
Carlos Nunez
  • Investor
  • Lehi, UT
3
Votes |
27
Posts

Utah - Rental Security Deposits

Carlos Nunez
  • Investor
  • Lehi, UT
Posted
From previous experience in east, it is common (almost standard) that a renter pays security deposit, last month and the first month (upon moving), at contract. Please can anybody tell me if this is the norm around here in Utah? I have my first Utah rental, and the renter is asking if I can split the last month in few months. Recommendations?

Most Popular Reply

User Stats

20
Posts
14
Votes
Adam Willis
  • West Jordan, UT
14
Votes |
20
Posts
Adam Willis
  • West Jordan, UT
Replied

Hi Carlos. 

Never split the deposits or move in charges.  If they don't have the money to play ball, then I would rather pass on them.  Seems extreme, but anytime I've split the deposit I end up burned.  With a 1% vacancy rate only work with tenants who can afford the move-in charges.

The policy at my property management company which is pretty standard for Utah is the following:

- The security deposit is equal to one month's rent and due upon signing the lease. 

- The first month's rent is prorated according to the day they move in.

 We only ask for the tenant to prepay last month's rent if they have subpar credit. Feel free to email me more questions. 

Loading replies...