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Excessive Deposit
My question involves a security deposit in the State of: NY
So I'm about to purchase a mobile home in a small park in NY. The landowner is collecting $415/mo rent towards water/sewer/trash/snow removal and of course: taxes!
He is asking for a $2,000 security deposit! Justifies it by explaining that it covers the "First and Last" months rent as well as money towards if he has to remove the mobile home from his property...
Is this normal? My friend moved out of a park and didn't have to give any sort of deposit like this at all, just the first months rent when she moved in!
This nearly doubles our cost of moving in (the loan on the mobile home will require a down payment of $2250) and is quite excessive if you ask me...
Can he legally collect that much in NYS? I don't think there is a limit, but at the same time I just think it's a bit high...
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Re: Excessive Deposit
Apparently, absent a rent control ordinance, New York doesn't cap security deposits.