One of the expenses that you will need to budget for when you move into an apartment is the security deposit. This is an important thing because the landlord is not going to allow you to move into the unit without it and you are going to find that every landlord or property manager will require that you pay this to them. If your budget is already stretched and you are worried about how you will move into the apartment in the first place, you may wonder why the landlord require this money from you.

Landlords will universally ask for security deposits in order to protect them from non-payment and any damage that the tenant is going to have. Security deposits are going to be set based on four things including the cost of the rent each month, the amenities that are provided to the tenant, the state law and any limitations, and the market competition. Each of these individually will have some say on the security deposit and how much you end up paying for it.

When you are trying to budget out how much you have for the security deposits, you will need to know each of these factors. Remember that some states will have limits on how much the landlord can charge for this kind of deposit. You can check into some of the local regulations on this if you feel like the landlord is trying to charge too much, but for the most part, landlords know all of the local laws about security deposits and will charge a fair amount.

While each landlord can do something different with the security deposit, the most common method used is to ask for the equivalent of one month’s rent. If you take good care of the apartment and just have normal wear and tear along the way, you will get most, if not all, of the security deposit back. If you destroy the place, the landlord keeps it to do all the repairs and fixes.

There are a million reasons to move to Hollywood, but you need to make sure that you are choosing the right home to ensure that you are comfortable with the new home you have made your own. With a lot of different apartments out there to go with, you will want to pick something that not only has all the great amenities you want, but also matches with your budget. That is why you should check out our apartments for rent in Hollywood. They are calling your name and ready for you to sign the lease today. Contact us to get started.