The rent deposit must not be more than one month's rent or the rent for one rental period (e.g. , one week in a weekly tenancy), whichever is less.A guide, in multiple languages, to help landlords and tenants understand and complete the Standard Form of Lease (standard lease). This form is a residential tenancy agreement (standard lease). Landlords of most private residential rental units must use this form (standard lease) Depending on the situation, signing a new lease may be obligatory, or it may be completely inappropriate. If you have good credit, you will usually pay first month and a security deposit. Residents who select this option will be assigned to University Towers Unfurnished Apartments or. You have a couple of choices here: Begin the lease on the 1st. Tenants will have to pay half a month.