Things are expensive in Boston.
To make matters worse, apartments are at historically high prices in Boston, reports the Boston Globe. In fact, the only cities to exceed Boston nationally were New York, San Francisco, New York's Westchester County (huh?), and Fairfield County (ok, then).
The most expensive neighborhood in Boston was Kendall Square, followed by Seaport and East Cambridge. The Financial District and Waterfront rounded out the top five.
It is important to note that not everyone in an expensive neighborhood happens to be wealthy. Many people are middle-class renters who are in the middle-zone. They can't afford a down-payment for a house, but they can't live too far from their jobs, so end up living in the city.
As such, when they rent in an expensive neighborhood, they may have to worry about security deposits quite a bit. Thankfully, Massachusetts is one of those states with a one-month’s rent limit on security deposits, reports FindLaw. So, if you are renting an apartment at $2,500 a month, you won’t have to pay a security deposit more than that amount.
And what happens when you’re prepared to leave the apartment. What happens to that chunk of money you gave as security deposit? Well, you are supposed to get it back from the landlord. In Massachusetts the security deposit return time limit is 30 days, reports FindLaw.
If you feel as if a landlord is trying to exceed the legal limits and do illegal things with your security deposit, you may want to call up a local landlord-tenant attorney from the real estate bar.
In the meantime, remember these basic rights for tenants: one month rent limit on security deposit, and security deposit return time limit is 30 days.
Related Resources:
- Find a Boston Real Estate attorney (FindLaw)
- What Can a Landlord Deduct From a Security Deposit for Cleaning and Repairs? (FindLaw)
- How to Get Your Security Deposit Back (FindLaw’s Law and Life)
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