Legal Question in Real Estate Law in Massachusetts

Re: Up Front Costs

In Massachusetts, a landlord may collect a first month rent, a last month rent and a security deposit before a tenancy begins. However, the law requires the landlord to take specific actions in regards to the deposits. Examples of this include a requirement that the money be held in a special bank account, separate from the landlord's money, with interest paid to the tenant. There must be a statement of conditions and there must be a receipt. The law is quite specific and the landlord should not accept deposits unless the landlord complies with all of the requirements of the law.