Utah - Rental Security Deposits

[Carlos Nunez]

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?

[Adam Willis]

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.