How Much Should I Expect to Pay for Security and Other Move In Deposits?
Our policy is straightforward: we never take less than one month's rent for a security deposit. This is the most common and standard requirement.
🔒 Security Deposit Policy & Additional Funds Overview
See: What Application, Move-In, and Monthly Fees Should Residents Know About?
However, owners sometimes require additional funds to help smooth the way and mitigate risk.
Why Additional Funds Are Required
Increases to the standard deposit are determined on a case-by-case basis in direct response to an assessed risk. The most common causes that might lead to an owner requiring additional funds include:
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Credit History: Minor credit issues are a common cause.
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Income/Credit Absence: Not having consistent income, or having no credit history (such as being new to the country).
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Pet Situations: Odd pet situations.
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Timing: Holding a property for a lengthy period of time.
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Other Factors: A few other rare situations may also arise.
Types of Additional Funds
When additional funds are requested, it usually takes one of the following forms:
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Collecting the last month's rent up front.
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A pet deposit.
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Simply requiring a larger overall security deposit.
Predicting Additional Deposit Charges
No one could accurately predict if you will need to pay more without a serious, formal look at your application. However, we can sometimes nail down potential additional deposit charges in advance, particularly if the owner insists on a pet deposit—though these specific demands from owners are very rare for us.
If there is something specific and minor about your situation, we may be able to check with the owner to gauge their openness, but any major issues will definitely require additional funds.