Additional SDs on M2M Leases - Landlord Forum thread 362245

Additional SDs on M2M Leases by Jason on December 5, 2022 @15:50

Ever since COVID-19, all of my leases are now M2M only --- just incase we get some COVID-23 or -24 coming our way.

With a M2M lease, am I within my rights to require two months' rent for SD?

Example: Rent is $1,000/mo. Tenant must pay first month's rent and two month's rent for SD, prior to moving in, bringing the grand total to $3,000. Is that permitted with M2M leases or is one month rent the maximum that can be required?

As always --- Thanks in advance.

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Re: Additional SDs on M2M Leases by Garry on December 5, 2022 @17:28	[ Reply ]

Contact a local attorney, and/or read up on your STATE Landlord/Tenant laws, and your Eviction laws. All LL/T laws are State specific. Just remember, even you could require a tenant to pay up to 2 months rent as a SD, that will also knock out many prospective tenants, simply because they cannot come up with such a large upfront amount to move in.