Effective January 15, the Seattle City Council approved legislation capping move-in fees at the first months rent plus no more than that for any move-in related deposits. Renters will be able to opt for payment of move-in costs above this (such as last months rent deposit) over a 6 month payment plan.
Historically, landlords could charge security deposit, last months rent and pet deposit fees up front before a tenant could move in. Now, combined move-in fees cannot exceed the equivalent of the first month’s rent. The ordinance also forces landlords to accept additional payments in installments, allowing tenants to pay gradually over a period of six months if they cannot afford the fees when they first sign the lease. Landlords are now also limited in how much they can charge for pet deposits: No more than 25% of one month’s rent (and payable over a 3-month payment plan).
RD House is fully prepared to work with these new requirements and are able to collect Last months rent and pet deposits in installments. There is an administrative cost to billing, tracking and collecting installment payments, and we will have to charge a $9.95 per month fee to owners when tenants request this option (but only during the period of installments). We generally would pass tenant-related costs like this to tenants, however the council legislation specifically prohibits doing so.
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