First month’s rent pays for your first rental period. A security deposit is held against unpaid rent, damage beyond normal wear and tear, and other legally permitted costs. It is generally refundable minus lawful deductions. Rental fees cover specific services or charges and are generally non-refundable, subject to applicable rules.
You may encounter all three while applying for and moving into an apartment, but they work differently. Understanding what each payment covers, when it’s due, and whether it's refundable can help you calculate your upfront costs before signing a lease.
| Question | First Month’s Rent | Security Deposit | Rental Fees |
|---|---|---|---|
| What does it cover? | Your first rental period | Unpaid rent, damage beyond normal wear and tear, and other legally permitted costs | A specific service, process, amenity, or other rental charge |
| Is it refundable? | Payment for occupancy; not held for return like a deposit | Generally refundable, minus lawful deductions | Generally non-refundable, subject to the charge, agreement, and applicable law |
| Who receives or holds it? | The landlord or property manager | The landlord or property manager, subject to applicable deposit-handling requirements | The landlord, property manager, or a third-party provider |
| When is it typically due? | At signing or before move-in, according to the lease | After approval, at signing, or before move-in, depending on the agreement | When applying, at signing, before move-in, monthly, or when a specified event occurs |
| What determines the amount and terms? | The lease, rental period, and applicable law | The lease and state or local deposit rules | The written fee terms and applicable state or local restrictions |
Ask for rent, deposits, and fees as separate line items. A single “move-in cost” figure doesn’t tell you which payments may be returned.
First month’s rent is the rent you pay for your first rental period. Unlike a security deposit, it isn’t money the landlord holds for possible return later. It’s your regular rent payment for occupancy.
Check your lease or move-in statement for the exact amount, when it’s due, and the dates that payment covers.
Prorated rent is a partial rental-period charge based on the billable days under your lease. It may apply when your lease starts partway through a monthly billing cycle.
How that amount is calculated can vary. For example, a lease or property may calculate the daily rate using the actual number of days in the month or a 30-day calculation.
Prorated Rent: Two Illustrative Calculation Methods
Assume monthly rent of $1,221 and 15 billable days in March.
| Calculation Method | Daily Rate, Rounded | Calculation for 15 Days | Prorated Charge |
|---|---|---|---|
| Actual days in March | $39.39 | $1,221 ÷ 31 × 15 | $590.81 |
| A 30-day calculation | $40.70 | $1,221 ÷ 30 × 15 | $610.50 |
The difference is $19.69. These calculations use the unrounded daily rate and round only the final charge to cents.
Confirm the calculation method, billable dates, and payment schedule in your lease. For example, ask whether the partial-month charge is due first or applied as an adjustment to a later rent payment.
For more on calculating a partial month’s payment, see our prorated-rent guide.
A security deposit is a refundable amount your landlord holds during your tenancy as financial protection against costs such as unpaid rent or damage beyond normal wear and tear. It is separate from your rent and from non-refundable rental fees.
When you move out, your landlord generally returns the deposit minus any deductions allowed by your lease and state or local law. Rules for security deposits vary by location, including how much a landlord can collect, how the money must be held, what can be deducted, and how quickly the remaining deposit must be returned.
You can help protect your deposit by:
There is no single nationwide deadline for returning a security deposit. The deadline, what event starts the clock, and what your landlord must provide with any deductions depend on the law that applies to your tenancy.
Here are five examples:
| State | Return Deadline | What Starts the Clock / Important Conditions | Source |
|---|---|---|---|
| New York | 14 days | Within 14 days after the tenant vacates for tenancies covered by the cited provision | N.Y. General Obligations Law § 7-108 |
| California | 21 calendar days | Generally measured from when the tenant vacates; additional rules govern deductions and supporting documentation | California Civil Code § 1950.5 |
| Massachusetts | 30 days | After termination of occupancy under a tenancy at will or the end of the tenancy under a valid written lease | Mass. General Laws ch. 186, § 15B |
| Nevada | 30 days | After termination of the tenancy; the landlord must return the remainder and provide an itemized written accounting | Nev. Rev. Stat. § 118A.242 |
| Texas | Generally 30 days | After the tenant surrenders the premises; the landlord’s obligation to refund and provide a written description of deductions is subject to the tenant providing a written forwarding address | Texas Property Code §§ 92.103–92.107 |
These deadlines concern returning the remaining security deposit after lawful deductions and any required accounting. New York’s cited provision does not apply to every type of housing or tenancy, so check the rules that apply to your rental.
Providing your forwarding address in writing is a good practical step wherever you rent and is particularly important where state law makes it a condition of the landlord’s refund obligations.
Security deposit laws may require more than simply telling you how much of the deposit was withheld.
For example, New York’s covered tenancies require an itemized statement indicating the basis for the amount retained. Massachusetts requires a detailed, sworn itemized list for damage deductions along with written evidence such as estimates, bills, invoices, or receipts. California also has itemization and documentation requirements, with exceptions that can apply in certain circumstances.
Texas generally requires a written description and itemized list of deductions, but its statute includes an exception to that requirement when the tenant owes rent and there is no controversy concerning the amount owed.
Because the documentation requirements and consequences for failing to follow them vary by jurisdiction, check the rules that apply where you live rather than relying on a national rule of thumb.
A pre-move-out inspection may help you identify potential security deposit deductions before you hand over the keys.
For covered New York tenancies, the landlord must notify the tenant in writing of the right to request an inspection before vacating after either party gives notice of an intent to terminate, subject to the statute’s conditions. If requested, the inspection generally takes place one to two weeks before the tenancy ends, with at least 48 hours’ written notice of the date and time. The landlord then provides an itemized statement of proposed repair or cleaning deductions, giving the tenant an opportunity to address eligible issues before moving out.
California also provides qualifying tenants an opportunity to request an initial inspection before the end of the tenancy, subject to statutory notice and timing requirements.
Regardless of where you rent, document the apartment with dated photos or video, keep your move-in condition record, provide your forwarding address in writing, and save communications with your landlord. If the applicable return deadline passes, request your deposit and accounting in writing and consult the appropriate state or local tenant resource.
Sometimes, but “no security deposit” can mean several different things. An alternative may change how or when you pay without eliminating your financial responsibility.
Some possibilities include:
Options vary by property and location. Before agreeing to an alternative, find out whether your payment is refundable, what it covers, whether you'll still owe money for damage or unpaid rent, and how much the option will cost over the entire lease.
For a fuller breakdown, see How to Not Pay a Security Deposit.
Rental fees are charges tied to a specific service, administrative task, amenity, pets, or part of the application or move-in process. Unlike a security deposit, a fee generally isn’t money your landlord holds to return to you at the end of your lease.
Whether a particular charge is refundable can depend on what the charge is, your lease or fee agreement, and state or local law. Before paying, ask the landlord or property manager to identify each charge in writing and state whether it’s refundable.
Rental charges can sound similar even when they work very differently. Here are some of the most common ones you may encounter.
| Charge | What It Covers | Typically Refundable | When It Applies |
|---|---|---|---|
| Application fee | Application processing and screening | Generally no, subject to applicable rules | When you apply |
| Administrative fee | Application or lease paperwork | Generally no, subject to applicable rules | During the application or leasing process; timing depends on the property |
| Move-in fee | Move-in arrangements or tenancy setup | Generally no, subject to applicable rules | At or before move-in |
| Holding deposit | Reserving the apartment before signing | Sometimes, or it may be credited toward rent or a deposit | When reserving the unit, before lease signing; timing varies |
| Pet fee | A one-time charge for keeping a pet | Generally no | At move-in or when adding a pet |
| Pet deposit | Protection against pet-related damage | Generally yes, minus lawful deductions | At move-in or when adding a pet |
| Pet rent | An ongoing charge for keeping a pet | No; it is a recurring charge | Monthly |
| Reletting fee | Costs associated with finding a replacement tenant after an early departure | Generally no | When an early departure triggers a permitted reletting charge |
| Late fee | A charge associated with overdue rent | Generally no | After any applicable grace period under the lease and local law |
Not every property charges all of these. Charge names may also overlap from one property to another, so the name alone doesn’t necessarily tell you what a payment covers or whether it’s refundable. State and local rules determine which charges are permitted and may impose additional requirements.
Before paying a holding deposit, confirm what happens if your application is denied, you decide not to sign, or the landlord rents the unit to someone else. Ask whether the payment will be returned or credited toward another charge.
The main security deposit is covered separately above. For more details on fees, check out our guides on Reletting Fees and Pet Fees vs. Pet Rent vs. Pet Deposits.
A move-in fee is a one-time charge a property may assess for moving into the building or establishing the tenancy. A property may describe it as covering administrative work, tenancy setup, elevator reservations, or protection of common areas during a move.
A move-in fee is different from your total move-in cost. Your total may also include first month’s rent, a security deposit, application fees, pet charges, and other permitted costs, which should remain separately itemized.
Permitted charges vary by location. Ask for the exact amount, what the fee covers, and whether it’s refundable in writing before paying.
For more detail, see What Are Move-In Fees?.
| Move-In Fee | Security Deposit | |
|---|---|---|
| What it pays for | Move-in services or tenancy setup | Unpaid rent, damage, and other legally permitted costs |
| Refundable? | Generally non-refundable, subject to applicable rules and terms | Generally refundable, minus lawful deductions |
| Who receives or holds it? | The property collects it as a charge | The landlord or property manager holds it subject to applicable deposit-handling and, where required, interest rules |
| How the amount is set | The property’s stated charge, subject to applicable restrictions | The lease amount, subject to applicable deposit caps |
| Whether and when money is returned | Generally not returned | The remaining deposit is returned according to the applicable legal deadline; see the return section above |
| How tenant-caused damage is handled | The fee does not automatically cover later repairs | Lawful repair costs may be deducted from the deposit, and a tenant’s liability can exceed the deposit |
Whether a landlord can charge both depends on the applicable state or local law and the charges involved. The fact that a move-in fee and security deposit serve different purposes doesn’t automatically mean both are permitted everywhere.
Ask for an itemized breakdown of both charges and check local restrictions before paying.
An apartment application fee generally covers costs associated with processing and screening a rental application, such as a credit or tenant-screening check.
The fee is typically requested when you apply, but application-fee rules vary by location. Before paying, confirm:
These charges aren’t necessarily due at the same point in the rental process.
An application fee, for example, may be due when you submit your application, while a security deposit and first month’s rent may be collected after approval, at lease signing, or before you receive the keys. A holding deposit may be requested earlier to reserve the apartment while you complete the application or leasing process.
Pet charges, administrative fees, and move-in fees may also have their own payment schedules. Before you apply, ask for a written breakdown showing how much each charge is, what it’s for, when it’s due, and whether it’s refundable. That gives you a much clearer picture of what you’ll need throughout the application and move-in process, rather than just the final amount due at signing.
There is no single national security deposit cap. The maximum amount a landlord can collect depends on state and, in some cases, local law.
Here are a few examples:
| State | General Limit | Source |
|---|---|---|
| California | Generally one month’s rent; up to two months for qualifying small landlords, subject to statutory conditions and exceptions | California Civil Code § 1950.5 |
| New York | Generally one month’s rent for covered tenancies | N.Y. General Obligations Law § 7-108 |
| Massachusetts | One month’s rent | Mass. General Laws ch. 186, § 15B |
| Nevada | Three months’ periodic rent, including security deposits, surety bonds, and last month’s rent combined | Nev. Rev. Stat. § 118A.242 |
| Texas | No general statewide cap specified in Chapter 92 | Texas Property Code ch. 92 |
Sources verified September 17, 2026.
California’s small-landlord exception has specific ownership and unit-count requirements and additional exceptions. New York’s cited provision also contains exceptions for certain housing and rental arrangements.
These are security deposit limits, not necessarily limits on every charge due before move-in. Local or program-specific rules may impose additional requirements, so check the current rules that apply to your rental.
Apartment List’s National Rent Report, published August 26, 2026 using August 2026 national data, puts the national median rent for a one-bedroom apartment at $1,221. Using that figure as a hypothetical planning example:
This example also excludes other potential costs, including renters insurance if your lease requires it.
The $2,442 subtotal is an illustrative planning estimate, not a quoted move-in amount or a universal savings requirement. Your rent, deposit requirements, fees, insurance requirements, and applicable state and local laws will determine your actual upfront cost.
The best way to know how much you’ll need isn’t to rely on a general rule of thumb. Ask the landlord or property manager for the numbers in writing before you pay.
Specifically, ask for:
If a landlord or property manager won’t explain what a charge is for or provide the terms in writing, consider that before handing over your money.
For a broader look at expenses you might encounter beyond your advertised rent, read our guide to the hidden costs of renting.
Renter tip: Apartment List can help you find apartments that fit your budget. Take the Apartment List quiz to start your search, then confirm the full rent, deposit, fee, and insurance requirements directly with the property before applying.
Is a security deposit the same as first month’s rent?
No. First month’s rent pays for your first rental period. A security deposit is a separate amount held as financial protection against costs such as unpaid rent or damage beyond normal wear and tear, subject to your lease and applicable law. The remaining deposit is generally returned after the tenancy ends, minus lawful deductions.
Do you get an application fee back?
Application fees are often non-refundable, but refundability and application-fee rules vary by jurisdiction and circumstances. Before paying, ask what the fee covers, whether any portion is refundable, and what happens if your application is denied or withdrawn.
Can a landlord charge both a move-in fee and a security deposit?
It depends on state and local law and the specific charges involved. Ask for each charge to be itemized and check whether local law permits both before paying.
What is the difference between a pet deposit and pet rent? A pet deposit is money held to cover potential pet-related damage and may be refundable minus permitted deductions. Pet rent is a recurring charge added to your monthly rent for having a pet and isn’t held for return when you move out.
Do you pay the security deposit and first month’s rent at the same time?
Not always. A landlord may collect first month’s rent and a security deposit at lease signing, before move-in, or at different points in the rental process. Check your written payment schedule so you know exactly how much is due and when.
When do I get my security deposit back?
Security deposit return deadlines vary by jurisdiction and may depend on when you vacate, surrender possession, or your tenancy terminates. Check the law that applies to your rental and provide your forwarding address in writing so your landlord knows where to send the remaining deposit and any required accounting.
Can I rent an apartment without a security deposit?
Possibly. Some properties offer deposit alternatives, installment arrangements, reduced deposits, or deposit-free options. These arrangements aren’t interchangeable: a non-refundable alternative payment works differently from paying a refundable deposit in installments, so review the full terms before agreeing.
How much do I need saved to move into an apartment?
There’s no universal amount you need saved. Using Apartment List’s August 2026 national one-bedroom median rent of $1,221, first month’s rent plus a hypothetical security deposit equal to one month’s rent would total $2,442 before fees. Your actual amount depends on your rent, deposit requirements, fees, insurance requirements, lease, and applicable law.
This article provides general information, not legal advice. Deposit and fee rules vary by state and city and can change over time. Confirm current rules for your location before signing a lease or paying a deposit or fee.
In unit laundry, Patio / balcony, Pet friendly, Stainless steel, Walk in closets, Gym + more
In unit laundry, Hardwood floors, Dishwasher, 24hr maintenance, Stainless steel, Walk in closets + more
