Amount Due Upon Signing
The total amount that I need to secure the lease two times the rent (first month's rent and security deposit). If there are more than one person on the lease, you can decide to split rental income however you see fit.
Lease Signing Process
My goal is to send out the lease to all parties as soon as I get the last application. I will speak to each parent (via phone or Skype) to make sure that they are aware that you are renting the apartment. After I speak to the parents then I will send the lease. The lease is electronic so we don’t have to scramble to find fax machines.
Security Deposit Process
I require that the security deposit to be paid in full upon signing the lease. Per Massachusetts law, when you provide the security deposit, I am required to deposit the money in an interest bearing account in your name and I must send you the account number within 30 days.
After you move in, I will send you a move in inspection form where you will have an opportunity to describe/capture the apartment condition, with pictures. I will want you and your roommates to complete this within 3 days of moving in. We will then review it together. This form will be the basis for the evaluation of the state of the apartment upon your move out.