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    Landload's Avatar
    Landload Posts: 1, Reputation: 1
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    #1

    May 2, 2011, 03:03 PM
    Security deposit increase
    When you increase rent control rent like 3% per month. How much or what percent can you increase the security deposit?
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #2

    May 2, 2011, 03:11 PM

    Usually in accordance with the rent increase (I.E. many are geared to what a months rent equals). BUT... a lot depends on what city and state this is. What you are and aren't allowed to do can vary greatly.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    May 2, 2011, 04:31 PM

    Where?
    khaning's Avatar
    khaning Posts: 22, Reputation: 0
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    #4

    May 27, 2011, 08:58 PM
    I do not understand. Do you mean for new residents or current ones? Current residents do not get a deposit increase, so that is out. Security deposit is your decision. If you want to raise it raise it, but if you want to rent apartments you better be competitive with the market.
    khaning's Avatar
    khaning Posts: 22, Reputation: 0
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    #5

    May 27, 2011, 09:00 PM
    Comment on khaning's post
    All my years in property management I have never seen a deposit at more than 2X the rent.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #6

    May 28, 2011, 11:41 AM

    I'm sure it varies by area. I owned property. Two times rent with no dog; three times rent with a dog PLUS a no-return deposit to shampoo the rugs when apartment was vacated.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    May 28, 2011, 03:48 PM
    Quote Originally Posted by khaning View Post
    Current residents do not get a deposit increase, so that is out.
    Actually that is not the case. It is legal to ask for an increase in the security deposit when a new lease with an increased rental is signed, at least in some areas.
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