How much will my security deposit be and when will I get it back?
Security deposit requirements vary depending on the property. Usually, for a qualified applicant, a security deposit is equal to 1 month’s rent and will never exceed 2 months of rent for a non-furnished unit. (Furnished units may be as high as 3 times the rent.) Once an application is approved, the security deposit is due and must be paid in the form of a cashier’s check or money order within 5 days or at the time you sign the lease, whichever is sooner.
Applicants who do not meet all our rental criteria may be asked to pay an increased deposit. The total amount will never exceed 2 times the rent on an unfurnished and 3 times the rent on a furnished unit.
Security deposits are fully refundable. We will only charge you for unpaid rent, damage beyond normal wear and tear, and cleaning upon move-out. One refund check and security deposit reconciliation are distributed to the Key-Person on the lease within 21 days after you have vacated the unit, given us the keys and returned possession to us.