Ann Cohen signed a lease for an apartment that required that she pay the first month's rent of $2,200, the last month's rent of $2,200, and a cleaning deposit of $350. Ann wonders, "Isn't it a violation of the law to require someone to pay almost $5,000 to move into an apartment?" Choose from the following your response to Ann:
A) Ann is correct; under the URLTA, the landlord has exceeded the
amount permitted for tenant deposits.
B) Ann is incorrect; prepaid rent is not considered a deposit and the first month's rent is due - the cleaning deposit is within URLTA limits.
C) Ann is correct because the deposits required exceed one month's rent, the URLTA limit.
D) Ann is correct because the amount required cannot exceed one month's rent by more than 10% under the URLTA.
B
Business