Next Brick’s standard practice is to hold a security deposit equal to one month’s rent in a trust account.
In some areas, local laws may limit the maximum deposit amount. In those cases, we hold the highest amount legally allowed.
If there are no restrictions, owners may decide the deposit amount they’d like Next Brick to hold.
If you are allowing pets, Next Brick can also hold an additional pet deposit.
⚖️ Important Note: In some cities and counties, security deposit amounts are ultimately determined by local laws. We will always review these requirements with you before listing your property for rent.
That said, the industry standard is one month’s rent. Holding more than that may discourage qualified applicants from applying for your property.