A landlord may only ask a tenant for the following up-front payments:
• The first month’s rent;
• A security deposit to cover the cost of any damage to the apartment beyond normal wear and tear (which may not exceed the amount of one month’s rent);
• The last month’s rent (the month that will turn out to be the tenant’s last one in the apartment); and
• The actual cost of a new lock and key for the apartment.
The landlord should provide a signed receipt for any payment that is made with cash or a money order. The receipt must include the amount paid and the date the payment was made, and a description of what the payment was for. The receipt should also include the landlord’s name, the tenant’s name, and the name of the person to whom the payment was given.
Landlords may not charge tenants or prospective tenants up-front pet fees, broker fees, or application fees at the start of a tenancy. Fees for the use of optional “amenities” such as parking, pool, or fitness center do not need to be included in the advertised price if the tenant has the option to decline them.
Security deposits
All security deposits must be deposited in a Massachusetts bank, in an account that collects interest, and within the first month of the tenancy. The deposit must be kept separate from the landlord’s money in an account that is protected from the landlord’s creditors. The landlord must provide the tenant with the name and address of the bank holding the security deposit, plus the actual account number. Each year, the landlord must either pay the tenant the interest on the security deposit or let the tenant deduct that amount from a rent payment.
The landlord should give the tenant a “statement of condition” within 10 days of beginning the tenancy or upon receipt of the security deposit