security deposit as rent rent because tenant decided did to take apartment.

[law5455]

What is the name of your state (only U.S. law)? New Jersey

Prospective tenant wanted apartment for May 1, 2009. We agreed. She changed her mind and now wants to move in on June 1. (Disappointing) She gave me security deposit consisting of 1 1/2 mo. rent to secure it. Loves newly renovated apt. which sells itself. Now she can't move in at all. Presently, April 29. I could have rented it to another in May but I held it for her for June, since she and her daughter wanted it badly. Can I keep a portion of security deposit for one month's rent compensation. She signed lease to move in June 1, 2009. Or do I hold security deposit 30 days and try to get another tenant for June. This is so disappointing because that apartment was vacant for 5 months; in an attempt to get the right tenant. I was determined to avoid getting the types I had to evict for non rent payment as in the past.

 

[Cvillecpm]

You have an agreement for her to move in June 1st so that is when you need to provide the apt to her. Your bad for delaying move-in 1 mo

 

[ecmst12]

That means if you find another tenant for June, you have to give her the deposit back.

 

[Cvillecpm]

OP wrote.....She signed lease to move in June 1, 2009. There is a lease and the better rental cycle is June-May....

 

[BL]

If she is not going to take possession , get it in writing .

Then re-rent .

If you are able re-rent before or for June , return the deposit .

You'll have to be actively trying .

 

[MIRAKALES]

The security deposit (because it is a deposit and not a binder or fee) can only be applied towards the first month of rent loss only. The written lease agreement between June 1, 2009 and May 30, 2010 is the only contract between LL and tenant.

Appropriate Procedure. In the future, request a non-refundable good faith deposit in the amount of one month’s rent, applicable towards the first month’s rent. This is known as a rental binder or holding fee. Confirm whether your state allows rental binders or holding fees. In addition, require that the security deposit be paid and lease agreement signed at least two weeks prior to move-in to confirm. Continue to show the rental to create a waiting list of other prospective tenants, just in case the deal falls through.

Appropriate Language. It is called a rental BINDER or holding FEE. A holding DEPOSIT is potentially refundable as with all deposits. A non-refundable rental binder or holding fee is a confirmed financial interest in the premises and should be applied towards the first month’s rent which should not extend beyond thirty (30) days. A security deposit is only applicable toward a lease agreement. The security deposit should not be accepted until lease signing because a security deposit is potentially refundable if move-in does not occur.

 

[1fuct1]

well what if they didnt have a agreement in paper or a lease just a verbal agrrement.?what if there was a misunderstanding of dates as well?

 

[Alaska landlord]

Take your time finding a replacement tenant. If your applicant cannot afford the SD and the rent, then it is a good indicator that you have a deadbeat that is living paycheck to paycheck. Never hold an apartment for an applicant. the longer time you give them, the more your chances increase that they will change their mind.

 

[law5455]

security deposit as rent because tenant did not take apartment.

I wish to thank all of you for your good answers. I just became a landlady last year because my precious, 82 year old Mom is dementing and I was asked to take over her affairs as Power of Attorney, Caregiver and Landlady. It is my privilege to step in for such a wonderful Mom. Nonetheless, dealing with Tenants have been a challenging experience. However, knowledgeable and caring people like you make life's challenges much easier.

Again "thanks!"