Submitted by evilhaw t3_11dqcz8 in personalfinance
J_Pizzle t1_jad2mmi wrote
Reply to comment by Nagisan in Would I need to pay Rent Twice? by evilhaw
It's pretty standard in MA, though often it's more like 3 of 4 for first/last/security/broker fee.
In MA, at least, they technically need to put anything prepaid (security and last month rent) into a savings account and give you the interest. Or a flat 5%/yr if they don't put it in a bank account. I can't say I've really seen the interest but usually it's not enough to bother pushing as long as they give me my full deposit back. Many might not even know they owe this, though some probably just count on tenants not being aware.
Nagisan t1_jadj0id wrote
Oddly enough, I forgot about the 6mo I was in MA years ago - bringing me up to 4 complexes in 3 states over the last 6 years where they never asked for last months rent up front.
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