Should I pay a security deposit before signing apartment lease?
On yesterday, I applied for an apartment and was approved on the same day. I was told that I needed to pay a $50 fee to secure the apartment which I did while on the phone with the Leasing Office. I went in the next day to view a unit that is similar to the floor plan I selected on the application and secured with the $50 fee. After returning home from viewing the apartment, I received an email stating that I needed to pay my security deposit in seven days even though I do not move in until the second week of September 2020. My question is should I pay a security deposit before signing a lease? I was not told that I needed to pay a security deposit before signing the lease while initially on the phone with the Leasing Office. I thought the security deposit and first months rent is paid when the lease is signed.
South Carolina resident
Should I pay a security deposit before seeing the actual unit I will be living in?
- Anonymous1 month agoFavourite answer
No. If the $50 fee secures the property there is no purpose in prepaying the deposit. In addition it is wise to refrain from doing so without first seeing the lease. You can pay the deposit and the first month's rent on move in day, which should also be the day you sign the lease.
- R PLv 71 month ago
No money until you have seen the actual unit you will be renting.
The security deposit is actually a holding fee, so if you back out, you'll lose that money.
- SlickterpLv 71 month ago
You pay the deposit when you sign the lease. You sign the lease now, before you move in.
- ALv 71 month ago
you need to sign the lease and pay the 1st month and security deposit right away so the apartment will be held for you
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- SimplytheFACTSLv 71 month ago
you should sign the lease now and pay the deposit after you see and agree to a specific apartment that is listed on the lease.
a holding deposit is not a security deposit. a security deposit is to pay for any damages/unpaid rent after you move out.