Downsizing my apartment ?
I have a 2 bedroom apartment with my mom. Me and her are both on the lease . Our lease will be up in march. She doesn't like the place we live at so she's leaving . I'm gonna stay and downsize to a one bedroom ? Will I have to pay a security deposit to move in ? I can afford it. Just asking.
What is the process I'm asking ?
- 8 months ago
then downsize it
- Anonymous8 months ago
Instead of asking on a worldwide site, why not talk to the leasing office? They're usually very happy to accommodate tenants who have been reliable. They'd much rather give you a 1 bedroom than have you leave with your mom and then have to go through a new vetting process with a different tenant. It's anybody's guess on the security deposit, but most places seem to require it. You'd be signing for the apt before you leave your current one, so technically they don't know yet if you'll get the full deposit back. That's why they view it as 2 separate deposits.
- SlickterpLv 78 months ago
They will likely just transfer existing depsoit I woudl guess.
- sunshine_melLv 78 months ago
As you're in a 2-bed now, you won't be staying - you'll be moving out of the current 2-bed property, and moving into a 1-bed property.
So it'll be a new lease, and a new security deposit.
- How do you think about the answers? You can sign in to vote the answer.
- babyboomer1001Lv 78 months ago
Yes. A security deposit is standard.Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience.
- JudyLv 78 months ago
probably. Ask the landlord or property manager.
- 8 months ago
That's something you should ask your leasing agent. At my complex there would be no new security deposit, it would roll over if we moved apartments, but I have no idea how your apartment management works. Your leasing agents should know.
- SlumlordLv 78 months ago
Yes, you will have to pay a security deposit but you should get back the seurity deposit (your part of it) for the place you are currently renting, if you leave it in good condition.
The process is to look for places up 2 a few months before you need one. Put in notice to the landlord that you will be terminating your lease when it is over and do that about 30 days before the lease ends (exact amount of time varies state to state but generally 15 to 60 days). When you find a good place put down an application and an application fee. Landlord will check your credit and refernces and such and if they like you they approve you. You then meet with the landlord and give them the security deposit and sign the lease. You move in on the move-in date.
- MarkLv 68 months ago
If in both names, they will need to refund first (after deducting for any damages), then sign you to a new lease. Timing wise, this may overlap, so you may need to have the $ ready for the new lease before the old security deposit is returned. You certainly can ask if renting from the same landlords.
In January I would ask them if 1 br is available for Mar and the process for switching and having just you lease it. Can you qualify for an apt on your own?
- zenoLv 78 months ago
If you need storage it's best to keep the two
Bed room as we have too many people who
Break into storage units and steal the stuff
You care about.