CA considering bill to limit deposits to 1 month
CA considering bill to limit deposits to 1 month
How much security deposit is too much? California landlords could lose the ability to charge as much as three times monthly rent.
I've done 2 months personally (first and last), but most of my places have done 1 month. 3 is insane.
What has everyone else been seeing?
Everywhere I've lived except my current place has wanted First + Last as a deposit. Current place just wanted one month.
The apartment I used to live at only wanted a $500 deposit - rent was around $3300/month. This was an apartment complex owned by a large company (Equity Residential) so honestly it confused me as I thought they'd try to squeeze as much money as possible from tenants. They did that for rent increases - the increases were always the maximum allowed by law (5% + CPI, capped at 10%), down to the cent.