Updated October 2026.
Yes, you can rent an apartment without paying a traditional security deposit. Landlords may waive it for applicants with strong credit, income, or rental history, or accept an alternative such as deposit insurance, a surety bond, or an installment plan. Each option either costs something you don't get back or leaves you responsible for damage the same way a deposit would.
In this guide, we'll break down how to not pay a security deposit up front, what each alternative costs, and how to negotiate with your landlord.
Yes, some landlords let renters move in without a traditional security deposit. They may offer a waiver, accept a deposit alternative, or allow installments. Your options depend on the property, your application, and state and local laws.
Landlords may waive security deposits for tenants who meet certain criteria. These criteria may include:
Even if you meet these criteria, a waiver isn't guaranteed. Some landlords require deposits from every tenant. Ask about deposit-free options before applying.
A security deposit is money paid upfront to cover damage beyond normal wear and tear, unpaid rent, and other legally permitted costs. It is usually refundable at move-out, minus lawful deductions. Our guide to security deposits covers how they work.
According to Freddie Mac, security deposit alternatives can reduce upfront moving costs, but renters should understand the fees, refund terms, and potential liability for damages before choosing one.
Here are five options renters can use to ease the upfront costs of moving:
Freddie Mac (May 2024) also lists deposit loans, where a lender fronts the deposit, and you repay it over time. A loan still leaves you owing the full amount, so ask for the repayment terms before agreeing.
A surety bond is a three-party agreement between the tenant, the landlord, and a bonding company. You pay a small, nonrefundable fee to the bonding company, which covers your landlord if something goes wrong. If the company pays out, you owe it that money back.
What you pay: A nonrefundable fee to the bonding company.
Is it refundable? No. The fee generally isn't returned when your lease ends.
Are you still responsible for damage? Yes. According to Freddie Mac, the surety covers the owner's claim and then bills the renter for reimbursement.
Who offers it? Availability depends on the property's policies and participating providers.
Security deposit insurance lets you pay a premium instead of a cash deposit. Providers include Greenlight Rent (the company formerly known as Rhino and Jetty, which merged and rebranded). Availability depends on the property.
What you pay: A premium, paid monthly or upfront depending on the provider and plan.
Is it refundable? No. Premiums are generally nonrefundable.
Are you still responsible for damage? Yes. According to Freddie Mac, renters with deposit insurance may still be liable to the insurer for claims it paid to a property owner
Who offers it? Greenlight Rent is one example. Eligibility varies by property.
These services let eligible renters meet a property's security requirement without a full cash deposit. Obligo is one example. Its renter page lists no-deposit, reduced-deposit, and deposit-in-installments options with a nonrefundable fee, plus a full-deposit option.
What you pay: A nonrefundable service fee. The amount depends on the provider and plan.
Is it refundable? Generally no, even if you leave the apartment in excellent condition.
Are you still responsible for damage? Yes. You authorize a payment method, and the provider can bill it for eligible move-out charges such as damage or unpaid rent.
Who offers it? Ask your property manager which services, if any, are available.
Some landlords let you split the deposit into smaller payments. Instead of paying $1,500 at signing, you might pay $500 per month for three months. This helps if you lack the cash for all your move-in costs, but it doesn't reduce what you owe.
What you pay: The full deposit, in scheduled payments. Ask whether your landlord will let you split the deposit without charging extra. Third-party installment programs can add a nonrefundable fee, so ask.
Is it refundable? The deposit follows the same refund rules as a traditional deposit. Your landlord may deduct lawful charges at move-out.
Are you still responsible for damage? Yes. Your landlord can generally deduct for damage beyond normal wear and tear and other costs the law permits.
Who offers it? Some landlords and property managers. Ask before you sign.
A conditional waiver eliminates the deposit for renters who meet a landlord's requirements, typically credit, income, and rental history. Unlike a paid alternative, it adds no premium or service fee. The landlord must agree, and the waiver should be documented in your lease.
What you pay: Nothing extra for the waived deposit.
Is it refundable? There is no deposit to refund.
Are you still responsible for damage? Yes. A waiver doesn't excuse damage beyond normal wear and tear, unpaid rent, or other amounts you legally owe.
Who offers it? Individual landlords and property managers.
| Option | What you pay | Is the payment refundable? | Are you still liable for damage? |
|---|---|---|---|
| Surety bond | Nonrefundable fee | No | Yes. You may have to reimburse the bonding company. |
| Security deposit insurance | Premium | No | Yes. Policy terms decide how claims are handled. |
| Deposit replacement service | Service fee | Generally no | Yes. You may owe eligible move-out charges. |
| Deposit installments | Full deposit in smaller payments | Generally yes, minus lawful deductions | Yes. Normal deposit rules apply. |
| Conditional waiver | No deposit payment | Not applicable | Yes. You remain responsible for amounts you legally owe. |
A waiver or landlord-run installments may be worth exploring before you pay a nonrefundable fee. Whichever you choose, read the agreement for what you'll owe if you damage the property or fall behind on rent.
A traditional deposit may come back to you. A nonrefundable premium or fee generally won't. Here is an example for an apartment with a $1,500 deposit.
| Option | Upfront cost | Cash paid over 12 months | Net cost if nothing is deducted | At move-out |
|---|---|---|---|---|
| Traditional deposit | $1,500 | $1,500 | $0 | You get $1,500 back, minus any lawful deductions. |
| Alternative with a $25 monthly fee | $25 | $300 | $300 | The $300 isn't returned. You may still owe for damage or unpaid rent. |
| Deposit installments | $500 | $1,500 | $0 | Refund rules match a traditional deposit. |
Example assumptions: the traditional deposit is returned in full, the alternative has an illustrative $25 monthly fee for 12 months, and the installment plan splits the same $1,500 into three equal payments with no added fee. These figures are hypothetical, not market averages or vendor quotes.
The monthly fee keeps more cash in your pocket at move-in, but costs you $300 over a year or $600 over two years. A refundable deposit ties up more money upfront, but you could get all of it back. You may still owe for damage.
Compare the total cost over your lease, whether any money comes back, and what happens if your landlord files a claim. For a wider look at move-in costs, see our guide to first month's rent vs. security deposits vs. fees.
A little preparation makes the request easier.
Bring proof of stable income, rental history, and credit. If your credit history is limited, offer references from previous landlords or records showing you've paid rent on time. Keep the request polite and simple: explain that you want to lower upfront costs, share your financial and rental history, and ask which alternatives the property offers.
Instead of asking only for a full waiver, ask whether your landlord would accept a smaller deposit, an installment plan, or a deposit alternative.
You could also offer a higher monthly rent in exchange for a waiver, but be sure to weigh the long-term cost. An extra $50 per month adds up to $600 over 12 months and $1,200 over 24 months. That money is rent, and you don't get it back the way you could a refundable deposit.
Be cautious about offering a smaller, nonrefundable deposit. A nonrefundable payment works as a fee, and some states require security deposits to be refundable. Check the security deposit rules that apply to your rental first.
Document the agreement in the lease or a written addendum. Spell out the amount due, the payment schedule, whether any payments are refundable, and what happens if there's damage or unpaid rent. Don't rely on a verbal promise that your deposit will be waived.
If you can't afford a deposit, check with your local housing authority, community nonprofits, and state or local programs for grants or low-interest loans. 211 can point you to local help. Eligibility and funding vary by location.
Application fees, pet deposits, and security deposits add up fast. Apartment List's personalized quiz matches you with apartments based on your budget, location, and the amenities you want.
Sometimes. Offer references from previous landlords to show a history of responsible tenancy, and ask whether the landlord accepts a guarantor or cosigner. A guarantor doesn't automatically replace a deposit, so confirm what the property requires. Learn more about apartment guarantors and their requirements.
Some landlords may also accept a deposit alternative or offer installments. If you want different credit requirements, see our guide to apartments that don't require a credit check.
Usually only if the landlord agrees. A landlord can generally make a deposit a condition of the lease unless your state or local law says otherwise. Your options are to ask for a waiver, installments, or an alternative, or to look at properties with different requirements. Check your state's deposit rules.
Try negotiating a lower amount or an installment plan. You can also ask whether the property accepts a deposit alternative, but compare its total cost and refund terms first. If negotiations fail, look at properties with more flexible requirements or save for the traditional deposit. A deposit alternative doesn't remove your responsibility for damage or unpaid rent.
Yes. State and local laws can limit deposit amounts and regulate how landlords hold and return them. Some require deposits to be refundable. See our security deposit rules by state before agreeing to a nonrefundable payment.
No. Deposit insurance helps satisfy a landlord's security requirement. Renters insurance generally protects your belongings and may include liability coverage. Deposit insurance doesn't replace renters insurance if your landlord requires it.
No. The fee is generally nonrefundable, even if you leave the apartment in good condition. If the bonding company pays your landlord for a covered claim, you may also have to reimburse it. Check the bond agreement for the exact terms.
It depends on the rental agreement and local law. Some properties offer alternatives as an option, while others require one. Before signing, ask whether you can choose a traditional deposit instead, and review all fees, refund terms, and damage-liability provisions in writing.
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