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I hear these terms a lot but but theyre not generally used in a proper way landlords will talk to me about a lease agreement thats been entered into and how at the beginning of the agreement they took first and last month as part of the lease agreement and when I asked a few more questions I asked did you take first months rent and last months rent and a deposit and usually Ill hear no no no I took first months rent and last months rent but last months rent is the deposit to which I scream no thats not the way it works youre taking first months rent absolutely and youre taking a deposit yes but unless youre taking some other amount that deposit is not rent in fact your lease probably says that explicitly