Security Deposits are a Funny Thing

March 28, 2011 10:32pm
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Or a depressing thing, depending on your credit, I suppose!

I remember being quite frustrated four years ago when we moved into the house that we’re leaving now upon finding that despite not having paid any security deposits whatsoever for the previous two apartments I’d lived in, moving only a few miles over the county line subjected us to all sorts of new policies and apparently trust issues that meant the power and water companies both wanted deposits from us in order to setup new service. At the time, I believe electricity was $295 and water was $145.

So fast-forward to the present day and I’ve been a little nervous, but at least more prepared with regards to how to deal with the deposits this time around. Obviously I don’t want to pay them, but at least this time I budgeted for having to put down some money in the instance that the rules had gotten even more strict than last time.

Luckily, between credit checks (electric), a good referral (gas), and already having an existing account (water), no deposits will be required for this move.

Which I suppose is a pretty good thing, because out of morbid curiosity I asked anyways what the deposits would’ve been…

  • Electricity – $495
  • Water – $145 (same company as before)
  • Gas – $125

Yep – that’s $765 in security deposits just to get the utilities turned on!!!

Sure, I guess you could argue that if you can’t afford the bills, maybe you shouldn’t be renting there to begin with, as the deposits are based on a multiple of the average bills for the house, but still – talk about a rough start to moving if you’ve been less than studious about making sure your bills get paid on time every single month!

Let that be a lesson to anyone who thinks that just one day late shouldn’t really matter…

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