![]() If you pay last month's rent in advance, do not expect to get this money back when you move out. But she does have to pay you interest on it every year. Your landlord does not have to keep your last month's rent money in a separate bank account. Last month's rent protects your landlord in advance if you leave and do not pay rent the last month you are there. And every year she must pay you the interest it earns. The account must be separate from the account she keeps her own money in. ![]() Your landlord must keep your security deposit in a bank account in Massachusetts. If you do not damage the property, you should get your deposit back when you leave. Security DepositĪ security deposit and last month's rent are not the same.Ī security deposit is money you pay a landlord to protect her in case you damage the apartment. ![]() If the 1st month’s rent is $1,000, a landlord can charge: When you first move in, your landlord may only charge you:Ī security deposit or a last month’s rent cannot be more than the amount of your 1st month’s rent. ![]()
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