What are the usual payment terms for a rental?

Rental deposits are usually pegged at two months. The rental advance for prime properties, especially those in the city, are usually 1 year in advance while less sought after properties can rent out for a semi annual rent or a quarterly rent. Be prepared to add the deposit on top of the rental payment. For example, a property that requires a 2 month deposit and a 1 year advance will command a 14 month payment in advance. Properties that offer semi annual or quarterly payments require post dated checks. Tenants are usually not allowed entry until the deposit and advance payments have been paid or until the checks have been cleared. < Prev   Next >