Do I Really Need a Rental Deposit with an Individual Owner?

Reader Question:

Hi, I’m moving to Mt. Pleasant… well I actually want to live in Mt. Pleasant rather than anywhere else in Charleston and I was wondering if you could help me. I’m looking at this one condo that is right at the base of the bridge, but owner is asking for a deposit.

Do you have to pay a deposit when you’re renting straight from the owner?

- Ashley Jacksonville, FL

Answer:

Hi Ashley! Welcome to Charleston and Mt. Pleasant in particular. I hope that you have a great time. I’ve actually been to Jax and love it there, but Charleston is very similar climate wise and a great place.

In regards to your question… It depends.

It’s really up to the owner whether they want to charge a deposit on their condo. Most of the time you will find that they will demand it… and that’s because it acts as protection incase you end up just leaving and never paying.

I know you’d probably never do that, but you would be surprised at how many times it happens to landlords. And when they collect that deposit, it puts a little pressure on you to stick around and keep the place clean and in good shape.

However, you can talk with the landlord and see if you can strike a deal where you pay the deposit over a length of time rather than all at once. It’s really important to know that you can negotiate with the owner.

Just don’t be surprised if they stick tight on their demands.

I hope you can work it out and get the condo that you really want. Again welcome to Mt. P and have a great time.

If you enjoyed this article, you might really enjoy these other articles we have to offer you:

• Are Home Owner Association Fees Good or Bad in Condo Living
• Charleston National Country Club: Condos & Retirement Living
• The Battery at Park West… Great Mt. P Condos.
• Renting My Condo To a Dad & Young Child?
• What If I’m Renting From a Guy in Foreclosure?
• How Do I Kick Out Bad Condo Neighbors?
• I’m Thinking of Renting my Condo… But…
• Who Else Loves Living in a Condo Rather Than a House?
• Is a Condo Still Good Even If I Have a Baby?
• Pros & Cons of Living in a Condo with a Terrace?
• When Should I Really Consider Buying a Condo?
• Condo Living if You’re Single… Relationship… Pets?

Mt. Pleasant Condos keeps bringing you more great content to help you learn about living in a condo and how to buy, sell, and successfully live in one.

Tagged as: condo rental deposit, Condo Renting