apt. deposit

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apt. deposit (by lee [NC]) Aug 3, 2009 4:14 PM

apt. deposit (by TE [TX]) Aug 3, 2009 4:37 PM

apt. deposit (by David [FL]) Aug 3, 2009 5:58 PM

apt. deposit (by Virden [OH]) Aug 4, 2009 5:53 AM

apt. deposit (by lee [NC]) Posted on: Aug 3, 2009 4:14 PM
Message:

State Specific Question About: NORTH CAROLINA (NC)

I had someone look at my apartment and she verbally told me she wanted it and gave me a check for the deposit to hold it. I told her not to give me any money if she wasn't sure or if she was still looking for a place. She later told me that she wouldn't be moving in after all and wanted the deposit back. I turned down people in the interim telling them it was already rented and stopped advertising / showing it or taking calls on it. I told her I couldn't return her money just because she changed her mind b/c she cost me a potential renter. She's telling me I'm breaking a law of some sort. The lease was not signed yet, everything was verbal thus far. I typically do not return deposits unless I turn them down for credit or some other reason. Does anyone know what the law specifically says regarding this? --75.189.xxx.xxx

apt. deposit (by TE [TX]) Posted on: Aug 3, 2009 4:37 PM
Message:

This time you will have to give the deposit back since it was verbal deal. Sorry, it sucks none the less.

Many LL'd here require the all applications be submitted and approved before accepting a "deposit fee". The fee converts to the apt deposit once the lease is executed. Once approved have them sign an application deposit fee and give you the funds in a certified check. Do not stop showing your unit until that has been done and be up front with folks that you are unable to stop showing until those things are done. You might search for application deposit fee here to get some verbage for your form.

Keep reading this site there is a lot of great information that will save you lots of headaches and money. --99.163.xxx.xx

apt. deposit (by David [FL]) Posted on: Aug 3, 2009 5:58 PM
Message:

I use this form for holding deposits. It very clearly states no refund if they don't take the unit.

HOLDING DEPOSIT RECEIPT

Move-in Date: ______________________

Applicant's Name: _______________________________________

Phone: ________________________________________________

Current Address: ________________________________________

The applicant agrees to rent housing accommodations located at: _______________________________________________________________ for a period of _________ months.

The applicant also posts a holding deposit for the accommodations in the amount of

$ __ . This holding deposit shall be applied toward the tenants security deposit when the rental agreement is signed.

In the event the application for residency is not approved or accepted or, if the residence is not ready for occupancy, the deposit will be returned to the applicant. If the applicant fails to sign the rental agreement, fails to provide additional funds required for occupancy or does not take occupancy on the scheduled move-in date, all of this holding deposit will not be refunded to the applicant and will be retained by the owner/manager.

By signing below, applicant acknowledges receipt of a copy of this notice.

Date Monies Received $ By Cash By Check # ____

Owner Applicant ____________

Manager Applicant ______________________

--205.188.xxx.xx

apt. deposit (by Virden [OH]) Posted on: Aug 4, 2009 5:53 AM
Message:

Lee, you stated that she knew about some law in your post - if you plan to run this business with routine income and minimum legal questions it would be a good idea to follow the state laws which can be observed in many ways starting with the blue lettering under the picture of the ship above. Raed here often the posts from your state, joining a landlord group in your area helps a lot and can bring you exposure to the local laws that you will face when going to court if that ever happens - we all hope it would never come but be prepared. --99.147.xx.x

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