What is “deferred last month’s rent?”

In certain situations, you may find a leasing special posted online and offered on one of our buildings.  A common one is that of “deferred last month’s rent”.

The special is typically offered with our new construction buildings and during the initial leasing efforts prior to the building opening.

In short, this offer reduces the move-in costs for prospects.  A standard leasing process would require payment of first, last and security (3X monthly rent) prior to move-in.  If you qualify for this promotion, you would only be required to pay first month’s rent + security deposit (2X monthly rent) and your last month’s rent would be “deferred” and due on the 1st day of the last month of your lease agreement.

Please note: This should not be mistaken for a “waived” payment. 

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