Asked by: Floretta Lavergne
real estate real estate renting and leasing

Can you use your security deposit to pay last month rent?

Last Updated: 18th April, 2020

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The only deposit legally allowed is a rent deposit
Most landlords require that new tenants pay a deposit before they move in. When a landlord asks a tenant to pay the last month's rent, this is a rent deposit not a security deposit.

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In this regard, can I use my security deposit to pay my last month's rent?

Tenants that are moving often have to give a whole new security deposit. Also, they often pay first and last month's rent to their new landlord. Using the security deposit towards last month's rent is only beneficial to the tenant. It is rarely, if ever, benificial to the landlord.

Subsequently, question is, can I pay my last month's rent with my security deposit UK? You're not legally allowed to withhold your last month's rent in lieu of getting your deposit back, unless you have agreed this with your landlord. Check your tenancy agreement if you are unsure whether you have agreed this or not.

In this manner, can I pay rent with security deposit?

Covering Unpaid Rent With A Deposit We already mentioned this briefly, but the short answer is 'yes'! Yes! And that's a huge part of why the security deposit is usually equivalent to one or two month's rent since this can help to protect the landlord from not being paid.

Should I pay last month's rent?

If the deposit is considered last month's rent, then that's all it can be used for by the landlord. You're a landlord who is about to take your first tenant. You want the tenant to pay first month's rent and a deposit to cover damage and any unpaid rent should the tenant abruptly leave before the lease expires.

Related Question Answers

Mahyub El Hassnaoui

Professional

Do you pay rent for the month before or after?

Rent Is Usually Due the First of the Month
Most leases and rental agreements call for rent to be paid monthly, in advance, on the first day of the month. However, landlords are normally legally free to establish a different monthly payment date—or even to require that rent be paid weekly or bimonthly.

Onkar Zumdohme

Professional

What happens if I don't pay my last month rent?

If you fail to pay the last month's rent and the costs incurred by management exceeds the amount of your security deposit, you will be in legal default. It is best to pay the last month's rent and get the balance of your security deposit returned as agreed in the lease document.

Selva Greeve

Professional

What a landlord can and Cannot do?

A landlord cannot refuse to rent to persons in a protected class. A landlord cannot provide different services or facilities to tenants in a protected class or require a larger deposit, or treat late rental payments differently. A landlord cannot end a tenancy for a discriminatory reason. A landlord cannot harass you.

Suanne Esquide

Explainer

How much is a security deposit for rent?

A typical security deposit is one month's rent but may be as high as three months' rent. According to the Zillow Group Consumer Housing Trends Report 2019, 87% of renters pay a security deposit, and the typical security deposit amount is $600.

Suping Chepurkovsky

Explainer

Can you deduct unpaid rent from security deposit?

When you rent out an apartment or a house, you will most likely collect a security deposit to cover repairs and cleaning. Usually, the landlord can deduct other costs, such as late fees, unpaid rent, and unpaid utility bills.

Gustav Ottel

Explainer

Is it smart to pay rent in advance?

When to Pay Rent in Advance
First, if you live in a competitive area and you need to secure a unit, paying ahead is a good way to make sure you get the unit you want. Offering a month or two of rent upfront might help your potential landlord take you seriously as a candidate. However, this could also be a rental scam.

Felica Ali

Pundit

Can landlord charge first last and security deposit?

But landlords may also ask for a security deposit and request that you pay your last month's rent before agreeing to rent to you. A security deposit is usually equal to one month's worth of rent, but may be less. A landlord can charge any security amount they choose as long as its within certain legal limits.

Deon Lizarraria

Pundit

Why is a security deposit needed?

A security deposit is any money a landlord takes from a tenant other than the advance payment of rent. The security deposit serves to protect the landlord if the tenant breaks or violates the terms of the lease or rental agreement. It may be used to cover damage to the property, cleaning, key replacement, or back rent.

Lancine Irles

Pundit

How does the last month rent work?

When you collect the last month's rent, and clearly label it as such, the tenant is paid up for that last month -- whenever it is, even if the rent has gone up in the meantime. You might have increased the "last month's rent" that you were holding by $50 at the time you raised the rent, but now it's too late.

Riza Raizman

Pundit

What is a security deposit used for credit card?

A secured credit card is backed by a cash deposit you make when you open the account. The deposit is usually equal to your credit limit, so if you deposit $200, you'll have a $200 limit. The deposit reduces the risk to the credit card issuer: If you don't pay your bill, the issuer can take the money from your deposit.

Elane Higino

Pundit

Can I use my security deposit as last month rent in Florida?

No, absolutely no one in Florida can use money held as security deposit as last month's rent. Security deposits and Last Month's rent are two completely separate items

Graciana Ableukhoff

Teacher

Can a security deposit be used for unpaid rent in Florida?

In Florida, a deduction from the security deposit can be made to cover the lost rent. As it is a tenant's contractual obligation to pay a monthly rent, a failure to pay is considered a breach of lease. This is a sufficient reason to deduct a portion of the security deposit to recover the unpaid rent.

Blondell Martinez Conde

Teacher

Can a landlord charge double security deposit?

The deposit is refundable and all parties need to make sure that the lease states as such. Both landlords and tenants should be familiar with their state's landlord and tenant laws. It is typical that there is a cap on how much security deposit a landlord can charge or hold, such as no more than two month's rent.

Benjami Nowanski

Teacher

Can security deposit be used for unpaid rent in NY?

3 Reasons New York Landlords Can Keep a Security Deposit
In the state of New York, a landlord can keep all or a portion of a tenant's security deposit to cover: Damage in excess of normal wear and tear. Unpaid rent. Additional breaches of the lease agreement.

Isoken Noal

Teacher

What are tenants rights?

Tenants also have certain rights under federal, state, and some local laws. These include the right to not be discriminated against, the right to a habitable home, and the right to not be charged more for a security deposit than is allowed by state law, to name just a few.

Hermelo Thons

Reviewer

How do I get my security deposit back from an apartment?

Steps for Getting Your Security Deposit Back
  1. Read Your Lease. Go through your lease as soon as you decide to move out.
  2. Notify Your Landlord.
  3. Pay Your Last Month's Rent.
  4. Make Small Repairs.
  5. Clean, and Clean Again.
  6. Take Your Stuff with You.
  7. Return Your Keys.
  8. Follow Up.

Donatila Kafferlein

Reviewer

How do I deduct security deposit?

Your landlord may deduct from your security deposit for:
  1. Unpaid rent.
  2. Repairs for damage other than normal wear and tear.
  3. Under some state laws, the security deposit may also be used for cleaning a rental unit after move-out, but only to make the unit as clean as it was when you first moved in.

Joelma Horue

Reviewer

How much should holding deposit be?

A holding deposit can be as much or as little as you feel comfortable with, but to give you an idea of what's “normal,” letting agents usually ask for £100 to £500, depending on the value of the rent.

Suimei Leboucher

Reviewer

How much deposit can a landlord take?

If you were a tenant and neither damaged the rental nor owe any rent, your landlord must return your security deposit. Many state laws (and some local ordinances) limit security deposit amounts; that limit is usually the equivalent of one or two months' rent.