All landlords have the right to require a security/damage/cleaning deposit. It is their insurance against damage beyond ordinary wear and tear. The amount varies from flat fee to one month’s rent. It could be retained in full by the landlord, and it cannot be used by a  tenant to pay rent. Make sure to get the exact requirements for the deposit in writing; know its purpose and under what circumstances you will get it back. Find out if the landlord is required to pay interest on the deposit, and if so, at what rate and what period of time. Other deposits to anticipate include pet deposits, key deposits, and recreation deposits. Be sure to also ask under which circumstances those deposits will or will not be returned and if interest is paid. If possible, accompany your landlord on their walk-through of your vacated property. This way you will know for what damages you are being charged.

Some landlords charge a rental application/credit check fee, which they require to check your references. Find out exactly what the fee is.

Building owners carry insurance on the building and the property within it– but not on the property belonging to you. Contact an insurance agent regarding a renter’s insurance policy. It’s a relatively low-cost way to protect your personal belongings. Consider natural  disasters, and find out about possible additional coverage.

Things may have changed since you first inspected your rental property, so a pre-move-in-walk-through is critical. Many landlords will have a form to indicate a unit or property’s pre-move-in condition. Take a thorough walk through the property and make very specific notes of scratches, stains, and other damage.

Be sure to find out what the state law provides as tax benefits to renters. Some recognize that renters pay real estate taxes through their rent and thus give renters a tax credit at year end. Your building owner must  provide you a statement of rent paid.