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kushNation141 t1_ixaq89m wrote

thats how it usually works. you have a month security which equals 1 month rent. as rent goes up you have to top off the security account

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Bh10474 t1_ixavtlv wrote

Yea, that’s normal. If your monthly rate goes up, you gotta add the difference onto your security

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c_hampagne OP t1_ixaqcjr wrote

Shit. Was looking forward to ripping them a new one but I guess I will refrain. Thank you 🙏🏼

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badquarter t1_ixbigkb wrote

Totally legal to match up to 1.5x your new rate.

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enfuegodiego t1_ixao0j3 wrote

Does your current lease specify the deposit in a monetary amount, or in terms of “one month’s rent” or something along those lines? If the latter, you probably have to oblige.

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Blecher_onthe_Hudson t1_ixaxg94 wrote

Doesn't matter, what's in the new lease supersedes the old. It specifies a rent and a security deposit. If the old deposit is insufficient, then obviously it needs to be increased.

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Jahooodie t1_ixd620d wrote

Are they doing all the other stuff by the book, like storing it in an interest bearing account at a bank they tell you? Do you get the interest either yearly by check or a report on the amount? Many to most don't, bringing up these as questions may show you know your legal rights better than they think.

They can ask, but it's a bit weird to "top off" your deposit every year when they raise the rent. I've never once had that happen across many years of renting, big & small outfits.

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c_hampagne OP t1_ixduz6v wrote

No, but they’ve generally been responsive when we’ve needed them and otherwise leave us alone so I really can’t complain too much. It just rubbed me the wrong way but it sounds like it’s normal for a rate increase so we’ll deal with it.

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BigAlOof t1_ixdw6hl wrote

when you do leave, you should ask for the deposit back with the interest. a lot of renters don’t even realize that’s what they’re supposed to get back. it’s a whole thing.

either that or don’t pay your last month’s rent just to be sure, but they’re still supposed to give you the interest.

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noticethinkingdoggos t1_ixbi046 wrote

They can ask as part of the new lease terms, but the deposit can only increase by a max of 10% per year.

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Substantial-Floor926 t1_ixbbbcq wrote

The landlord can legally do that as others have mentioned but it is a pretty shitty thing to do

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Jahooodie t1_ixe6qog wrote

I've never, ever had this happen to me & seems like the most petty landlord shit ever to me.

0