crazyquik
Distinguished Member
- Joined
- May 8, 2007
- Messages
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Yeah yeah, I know what they are for.
But how are they priced?
Growing up, I always thought it was 1 month's rent, that way if the tenant bounces on the landlord without paying the rent, the landlord is covered.
Then I lived in a few places where it was a half-months rent.
Recently I just looked at some apartments where it was 10-15% of one-months rent.
Is there any rhyme or reason to it? Are apartment managers lemmings and just following the crowd of other complexes in setting these rates?
But how are they priced?
Growing up, I always thought it was 1 month's rent, that way if the tenant bounces on the landlord without paying the rent, the landlord is covered.
Then I lived in a few places where it was a half-months rent.
Recently I just looked at some apartments where it was 10-15% of one-months rent.
Is there any rhyme or reason to it? Are apartment managers lemmings and just following the crowd of other complexes in setting these rates?