Does the California Security Deposit limit apply to privately owned condos?
JP asked:
I 'm planning on renting a flat ownership of private property, unfurnished in California, and the landlord wants a $ 500 deposit for pets over the security deposit, which is 2x the rent. The real estate agent working for the owner said that the limit of security deposit 2x the rent does not apply to the properties of the horizontal property. ¿Anyone knows if this is correct?
February 8th, 2009 at 1:32 pm
The security deposit restrictions apply to all residential rentals, regardless of whether it is a single-family house, condo, or multi-unit complex.
In Los Angeles County (may apply to entire state) you may not collect more than 2x monthly rent prior to move in. This means you can charge the first month’s rent, plus an equal amount to cover security deposit and last month’s rent.
Landlords may charge an additional amount for a pet deposit.
February 10th, 2009 at 4:04 am
Firs last time I look a real estate agent is not a lawyer, but a quick research seems to imply under CA statute any deposit, IE Security, Cleaning, Key , and yes animals combined can not exceed twice the rent period
If so, I have no idea what the agent means by privately owned rental? most landlord’s are private entities and not land title to a LLC or S corp
I would ask the agent if they are so sure, the exact state statue number where it address this so called exception