nako's Profile

  • Judy
  • 2005
  • 2006
  • Brooklyn
  • Bedford Stuyvesant
  • House
  • Project Manager
  • Female

Author's Posts

January 15, 2008

Security Deposit increase or not?

Hi,

This is my first time renting out an apartment and I wanted to know when you raise the rent do you also ask tenant to pay difference in security deposit to reflect rental increase?

Thanks!

Posted in Forum by nako at 1:32 PM | Comments (18)
Categories: Landlord

Author's Comments

Thanks for all your comments.

Posted by: nako at January 16, 2008 10:46 AM in response to Security Deposit increase or not?

Responses to Author's Forum Comments

Definitely yes. 6:55 above has the right idea. As a landlord, protecting yourself doesn't have to be unfriendly or nit-picky.

Posted by: guest at January 16, 2008 2:49 PM in response to Security Deposit increase or not?

I'm a renter and when our landlords raised our rent (pretty minimally), WE suggested we should match the raise on last month & security deposit. It just made sense. We want to stay in our place a long long time. And when we finally leave, we won't have to worry about what amount we're supposed to get back -- we'll just always keep it pegged to our current rent. Yes, we'll lose a few bucks on interest, but we love our landlords -- it's a good gesture & it keeps the books current. Maybe I'd feel differently if I was renting from a giant management co.

Posted by: guest at January 16, 2008 4:49 PM in response to Security Deposit increase or not?

To 4:49pm
If you were renting from a giant management company, you would have to pay the raise for the rent and security deposit.
They do it to keep the accounts straight.

It is all very impersonal.


Posted by: Ysabelle at January 16, 2008 5:26 PM in response to Security Deposit increase or not?