 deposit (by fedsmith [KS]) Jul 7, 2011 9:12 AM
 deposit (by Ken [NY]) Jul 7, 2011 9:53 AM
deposit (by Martin [MO]) Jul 7, 2011 10:14 AM
deposit (by CTLL [CT]) Jul 7, 2011 10:24 AM
deposit (by CTLL [CT]) Jul 7, 2011 10:26 AM
deposit (by Virden [OH]) Jul 7, 2011 12:28 PM
deposit (by fedsmith [KS]) Jul 7, 2011 12:43 PM
deposit (by steph [KS]) Jul 7, 2011 2:34 PM
deposit (by Julie [KS]) Jul 7, 2011 3:25 PM
deposit (by Debi [KS]) Jul 8, 2011 12:11 PM
deposit (by fedsmith [KS]) Posted on: Jul 7, 2011 9:12 AM
Message:
State Specific Question About: KANSAS (KS)
Tenant signed lease for 1 year $1200 montly in April to rent a property that would be availible in Aug.,
Paid deposit of $1200, move in date was Aug. 1st, July 7th iwas told that they did not want property anymore.
Can I keep deposit?
Can I charge the difference in rent that I can get now.
? --65.64.xxx.xxx |
deposit (by Ken [NY]) Posted on: Jul 7, 2011 9:53 AM
Message:
I would tell them to put it in writing and mail to you.You can't keep security deposit but if it was a holding deposit you can keep it unless you get it rerented for August.I would take my chances with a security deposit and see if they sue you --67.252.xx.xx |
deposit (by Martin [MO]) Posted on: Jul 7, 2011 10:14 AM
Message:
Ken, the poster CAN keep the SD--the tenant signed the lease.
Where people usually get into trouble with deposits vs holding fees is that there is nothing in writing. In this case, there is a signed lease. --65.70.xxx.xxx |
deposit (by CTLL [CT]) Posted on: Jul 7, 2011 10:24 AM
Message:
You should have anticipated that getting a security deposit in April for tenancy in August that there might be a tenant's change of heart. Tenant had plenty of time to look around for something better while having a backup rental. Or would have tenant's remorse - like buyer's remorse.
You kept your rental off the market on a contract with a deposit of money to seal the deal for April, May, June and on the 7th of July your tenant has the gall to terminate the agreement and wants his money back!!
If it had been 2 days later or even 7 days later, I would have given the money back. But not after 3 months.
Let him take you to court. I'm sure the judge would rule in your favor.
Next time, you should take a holding deposit with the stipulation that money cannot be returned after so many days. --68.229.xx.xx |
deposit (by CTLL [CT]) Posted on: Jul 7, 2011 10:26 AM
Message:
In fact, he signed a lease. He has to pay the rent until the unit is re-rented. --68.229.xx.xx |
deposit (by Virden [OH]) Posted on: Jul 7, 2011 12:28 PM
Message:
I see he paid a deposit but not any rent, the lease period has not started yet. the holding fee is the preffered opening transaction which will convert to a deposit upon paying the first month rent and beginning the lease terms. --76.241.xxx.xx |
deposit (by fedsmith [KS]) Posted on: Jul 7, 2011 12:43 PM
Message:
Ok, so this is a holding deposit.
Is this holding deposit mine to keep or does it need to be retuned? Do I have to itemize the costs incured for breaking the lease and return the unsued portion?
If I rent it for less then his lease can I charge the difference to the guy who broke the lease? --65.64.xxx.xxx |
deposit (by steph [KS]) Posted on: Jul 7, 2011 2:34 PM
Message:
From what I understand, if you presented it as a holding deposit it is yours to keep. My application plainly states if they change their mind after the application is approved they loose it. I do go over this at application time. I say...if you are approved and you change your mind to another place or to move in with mom then you forego the holding deposit. My holding deposit is 1/2 of the security deposit. I would say since they signed the lease it is yours!! No explanation needed. and yes I agree they are accountable for rent until the place is rented since they signed a lease. --68.28.xx.xxx |
deposit (by Julie [KS]) Posted on: Jul 7, 2011 3:25 PM
Message:
In the situations where I have a signed lease as well as security deposit/non-refundable holding fee, I give them the option of either forfeiting the holding fee and walking away or abiding by the lease terms with paying the rent/utilities until the property re-rents; of course, deposit is refunded when the property re-rents less my lease termination fee. Either way they sign a release that they have no intention of occupying the property and have released it back to me to be re-rented.
Those are the only 2 options they get. If they want to get nasty and it ends up in court, I at least have documentation that I tried to work with them and offered them a "deal". You should also have a Non-Refundable Holding Fee Binder that will stand up in court signed on all pre-leased units.
I wouldn't push my luck trying to pin the lease breaker down on making up the differences in rent if you end up renting the second time for less. There is such a thing as karma.....and it will come back to bite ya.
Re-rent ASAP and mitigate the damages and the worries. --204.96.xxx.xx |
deposit (by Debi [KS]) Posted on: Jul 8, 2011 12:11 PM
Message:
Start trying to re-rent ASAP. They are responsible for rent and utilities until you get it re-rented. Take it out of the deposit funds and mail them the remaining $$ after your new tenants have moved in. --99.163.xx.xx |
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