The total upfront payment amount is calculated by adding together the various initial costs required before moving into a property, which typically include the first month’s rent and a security deposit. Any other applicable fees like pet deposits may be included, depending on the terms stated in your contract.
You’ll receive an email from us with a breakdown of the total upfront rent amount, the date payment is due, and details of the bank account into which you will be making the transfer.
Here are a couple of definitions to help you understand the initial costs required before moving in:
- Security deposit: A security deposit is a refundable amount of money you provide upfront that acts as a safeguard against potential damages or unpaid rent during your lease period.
- Upfront rent: Upfront rent refers to paying your rent for a specific period, such as the first month, before you move into the property.