Here at Homespot, we are excited to offer you two options when it comes to placing a security deposit on your home!
Traditional Security Deposit
If you choose to proceed with a traditional security deposit method, you will pay a deposit equal to 2x the monthly rent rate. With this security deposit, it is refundable – minus any fees that are applicable upon move out (including repairs and cleaning fees). Then, to secure the property, you would just need to make a months’ rent payment. It will be held as a Holding Deposit until you move in, then it will be applied to your first months’ rent!
First Month (Due on Move-In):
- Security Deposit (Equivalent to one month’s rent – Placed to claim/hold the property)
- First Months Rent
- New Tenant Setup Fee ($30/person that is 18+)
- Monthly Maintenance Program (If the property is eligible – $10)
- Non-Refundable Pet Deposit (If applicable – $250)
- Pet Rent (If applicable – $75 for first pet, $50 for Second Pet, $25 for Third Pet)
Second Month (Due on the 1st of the Second Month):
- Rent (Prorated for days property was in possession for the first month)
- Monthly Maintenance Program (If the property is eligible – Prorated)
- Pet Rent (If Applicable – $75 for first pet, $50 for Second Pet, $25 for Third Pet – Prorated)
Third Month (Due on the 1st of the Third Month):
- Rent
- Monthly Maintenance Program (If Applicable – $10)
- Pet Rent (If Applicable – $75 for first pet, $50 for Second Pet, $25 for Third Pet)