Property Management
A Vermont property manager who collects 'first month's rent, last month's rent, and security deposit' at lease signing is collecting a total of how many months' equivalent?
A2 months
B3 months equivalent (first month, last month, plus the deposit — though the deposit is typically limited to 2 months' rent maximum in Vermont)✓ Correct
C4 months
D1 month only
Explanation
Collecting first month's rent + last month's rent + security deposit totals 3 months' equivalent (though Vermont limits the security deposit to no more than 2 months' rent). Some Vermont landlords collect all three at signing, while others collect the deposit separately from rent.
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