What does first/last months rent as a deposit mean exactly?

it just means you have to pay for the first and last month before you can move in.

you will pay 2 months rent before you can move in, for the first and last month. this is not in addition to normal rent. so after you move in, your first month is already paid, and when you are ready to leave your last month is already paid.

If a landlord is asking for first and last months rent in advance, that's exactly what it sounds like. You're paying your first month up front, as well as the last month's rent. You won't have to pay rent for the last month of the lease. Not all landlords request first and last month in advance, and some states specifically bar this practice. You will always have to pay for the first month in advance.

The security deposit is money that you hand over to the landlord as security against any excess wear or damage that you cause during your tenancy. It is NOT advance rent, and you may NOT apply it to your last month as advance rent. In most parts of the country, the security deposit is the same amount as one month's rent. Some states specifically limit it to an amount equal to one month's rent and others allow landlords to demand whatever the traffic will bear.

When you move out, the landlord will deduct any repairs necessary and refund the balance to you. If there are no damages, you will get your entire security deposit back. If you caused more damage than was covered by your deposit, the landlord will demand that you pay that to him and will probably sue if you fail to do so.

First Last And Security Deposit

Usually you would give the deposit and the rent on the day that you get the keys, which would be the same day you would sign the contract, but as you're doing it well in advance then only give him the deposit, and wait until you get the keys to give him the rent. He wants to be protected against you backing out, but you have to protect yourself too in case he runs off with your money. The deposit is there for security, the rent isn't.

The last month rent collected means that u will be informing the landlord that u are about to leave or move so that money covers you for that month and at the end of that time u will be gone . It is not money that will be returned to u , because u have it secured for u ,so the landlord cannot rent it to someone else . Unless u both come to an agreement otherwise .

They just want last months rent as security so you don't skip out...it

sounds like a good enough deal, when you give 30 days notice to leave you have already paid the rent.

It is the first month plus another month's worth. So you'll be paying 2x as much for the Month #1 than you do for every other month. And normally you still pay for your last month and then they give the "last month deposit" back to you once you are moved out. They keep it til you move out just in case. THis way if you don't pay 1 month or refuse to move out on time they have enough to cover part of it.

yes, the deposit is two month's rent.

which is first and last month.

which means you've already paid first and last month rent.

it would be one month's rent in addition to monthly rent...

since you are probalby already planning on paying first month's rent.

It always sounded like the landlord expecting to pay for the month PRIOR to even moving in. Like, I start renting Dec.1, why is the landlord asking for rent to cover December and then the November when I didn't yet live there? (November would be "last month" relative to December.)

it means they require you to pay first and last month as a security for you moving in