What is the cost of a downpayment in order to secure an apartment rental?

Typically, the equivalent of 4 months rent is required to secure properties in Boston’s most desirable neighborhoods. This would include First Month’s Rent, Last Month’s Rent, Security Deposit and Broker’s Fee.

How much is a typical security deposit?

It is equivalent to one month’s rent.

Do I receive my security deposit back at the end of my tenancy?

Yes, as long as there has been no damage to the unit. Otherwise it is used for necessary repairs prior to the next tenants occupancy.

How much is a broker’s fee?

It is equivalent to one month’s rent.

What is required in order to apply for an apartment rental in Boston?

Most landlords will require the following:

  1. Income Verification
  2. Credit Report
  3. Photo of Driver’s License
It is best to have all of these ready prior to applying. We also recommend to write the owners a handwritten letter in order to give yourself an advantage over other prospective tenants.

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