Question

What does LMR and FMR stand for

a) Last Month's Rent, First Month's Rent
b) Lease Maintenance Request, Future Monthly Rate
c) Landlord's Monthly Return, Full Monthly Rent
d) Late Move-in Request, First Move-in Rate

Answer 1

LMR and FMR stand for Last Month's Rent and First Month's Rent, which are terms that refer to payments landlords typically require upfront when a lease is signed.

Step-by-step explanation:

The acronyms LMR and FMR in a housing context typically refer to Last Month's Rent and First Month's Rent respectively. These terms are commonly encountered in rental agreements or when discussing the financial aspects of leasing a property. When you sign a lease, landlords will often require the first month's rent upfront to cover the payment for your first month of occupancy. Last month's rent is also collected in advance as a security for the landlord to ensure that the tenant does not leave without paying for their final month of tenancy. It is crucial to understand these terms when entering into a rental agreement, as they impact the initial cost of moving into a new residence.