Lease and deposit questions, answered

Check the money, the dates and the ways out. Confirm the rent, due date, late fee, deposit and every other fee match what you were told, then check the start and end dates, how much notice you must give to leave or renew, and what happens if you need to break the lease early.

Most security deposits in the US equal about one month's rent, though some landlords ask for less and some ask for up to two months, especially from renters with limited credit. Many states cap deposits at one or two months' rent, while others set no limit, so check the rule for your state.

Start by reading your lease for an early termination clause, then talk to your landlord before you stop paying or move out. The usual options are paying a set fee, finding a replacement tenant, subletting if the lease allows it, or negotiating a buyout. Leaving without an agreement can mean owing rent until the unit is re-rented.

No law requires renters insurance, but many landlords and apartment complexes require it in the lease, often with a minimum amount of liability coverage. A basic policy is inexpensive, commonly somewhere around $10 to $25 a month, depending on where you live, how much coverage you choose and your deductible.

Normal wear and tear is the gradual decline that comes from ordinary living, like faded paint, light scuffs and carpet worn in walkways, and landlords generally can't deduct it from your deposit. Damage goes beyond ordinary use, like holes in walls, burns, pet stains or broken fixtures, and can be charged to you.

Usually not. During a fixed-term lease, such as a 12-month lease, the rent is generally locked for the whole term unless the lease itself allows increases. If you rent month to month, the landlord can usually raise the rent with proper written notice, and the required notice period depends on your state.

Yes, and it often works. Renewal is when you have the most leverage, because replacing you costs the landlord cleaning, repairs, advertising and weeks of empty rent. Ask for a smaller increase or something in return for signing again, and base your request on what similar units nearby actually rent for.

It depends on whether you value flexibility or stability. Month-to-month lets you leave with short notice, often about 30 days, but the landlord can also raise the rent or end your tenancy with similar notice. A 12-month lease locks in your rent and home for the year but costs more to break.

It depends on your lease and your state. Many leases roll over to month-to-month, some renew for a full new term if you miss a notice deadline, and some simply end, meaning you must move out on the end date. Check your lease's renewal and notice clauses two or three months before it ends.

Common extras include pet fees, parking, storage, amenity or package fees, utility billing fees, trash and pest control charges, and late fees. Which are allowed, and how large they can be, varies by state and city. Any recurring fee should be written into your lease before you sign, not added afterward.

It depends on your state and your lease. Many states require late fees to be reasonable, and some cap them at a percentage of rent or a fixed amount, or require a grace period of a few days before any fee applies. Where there is no specific rule, the fee in your signed lease usually controls.

A pet deposit is refundable and covers damage your pet causes, much like a security deposit. A pet fee is a one-time charge you don't get back. Pet rent is a monthly charge added to your rent for as long as the pet lives there. Some landlords charge one of these, and some charge two or all three.

Usually not, unless your landlord agrees in writing. The deposit exists to cover unpaid rent and damage after you leave, so skipping your final payment leaves nothing to cover repairs, and many leases forbid it outright. Prepaid last month's rent is different: if you paid it at move-in, it covers that month.

In most of the US, yes. When a fixed-term lease ends, a landlord can usually decline to renew for almost any reason, as long as they give the notice your lease and state require. They can't refuse for a discriminatory reason, and many states bar non-renewal as retaliation for repair requests or complaints.

Usually yes, with the landlord's approval. Most landlords will ask the new person to apply and pass the same screening you did, then add them with a lease amendment or a new lease. Moving someone in without approval can break your lease's occupancy rules, even if they help pay the rent.

It means every tenant on the lease is responsible for the entire rent and any damage, not just their own share. If one tenant doesn't pay, the landlord can collect the full amount from any of the others, and can deduct unpaid rent or damage from the shared deposit.

A standard renters policy covers three things: your belongings if they are stolen or damaged by covered events like fire or burst pipes, your liability if you accidentally injure someone or damage their property, and extra living costs if your home becomes unlivable after a covered loss. Floods and earthquakes are usually excluded.

A verbal rental agreement is legal in most states for short terms, commonly a year or less, but it is hard to prove what was agreed when something goes wrong. Get the key terms in writing, even as a simple signed page, especially when renting a room from someone you found online.

Usually not without some cost. Leases generally have no cooling-off period, so once both sides sign, you are bound even if you never move in. You can still ask to be released, and many landlords agree if you pay a fee or they can re-rent the unit quickly, but expect to lose some money.

Yes. Leases sometimes contain clauses a court wouldn't enforce, and signing one doesn't make it valid. Common examples are waivers of your right to a livable home, to your deposit, or to notice before entry, and clauses letting the landlord lock you out without a court order. Which clauses are void depends on state law.

In most cases your lease stays in effect. The new owner takes over the property subject to existing leases, so your rent, end date and other terms carry over, and your security deposit should be transferred to the new owner or returned to you. Foreclosure works differently, but tenants still have some protection.

Only in some places. Most states don't require landlords to pay interest on security deposits, but a handful of states and some cities do, sometimes only after the deposit has been held for a set period or for buildings above a certain size. Where it applies, interest is often paid yearly or when you move out.