 Security Deposit (by michele [MI]) Sep 10, 2016 10:43 AM
 (by John... [MI]) Sep 10, 2016 11:01 AM
(by John... [MI]) Sep 10, 2016 11:02 AM
(by Kyle [IN]) Sep 10, 2016 11:33 AM
(by John2 [MI]) Sep 10, 2016 11:40 AM
(by Michele [MI]) Sep 10, 2016 1:07 PM
(by John... [MI]) Sep 10, 2016 1:41 PM
(by michele [MI]) Sep 10, 2016 2:05 PM
(by michele [MI]) Sep 10, 2016 2:07 PM
(by michele [MI]) Sep 10, 2016 2:17 PM
(by John... [MI]) Sep 10, 2016 3:15 PM
(by michele [MI]) Sep 10, 2016 5:31 PM
(by Vee [OH]) Sep 11, 2016 6:22 AM
(by Vee [OH]) Sep 11, 2016 6:26 AM
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Security Deposit (by michele [MI]) Sep 10, 2016 10:43 AM
Message:
Just had a new tenant say is they will not be able to move into rental because they are breaking up. Unsure if this is true since his boss seems to think he is staying here in Michigan. Anyways my current tenant were willing to stay longer but since new tenants needed place by first (that was when my current tenants lease was up) my current tenants have since found another rental (they are moving into family home). If I can get a tenant before 1st I will give deposit back but if that does not happen can I keep it to help with loss rent? Plust turning others away (hopefully they will be interested). --70.194.x.x |
Security Deposit (by John... [MI]) Sep 10, 2016 11:01 AM
Message:
The question comes down to this: what have you SIGNED with the ones that are backing out?
In general, you can't just keep a deposit, no. You need to show damages. To do that, you need a contact that shows why they owe you for something.
So, what exactly did you sign when you took the deposit from them? What I do is always sign the LEASE at the time that I take money from them. They are locked in at the date that they sign it.
For people that don't do it that way, you should be having them sign a Non-refundable Holding Fee agreement for the space between that time and signing the lease.
So -- did they sign anything? If so, what?
- John...
P.S. Remember that deposits are always refundable, by definition. Fees are not. Be careful not to mix the two when you start collecting a "Holding Fee", for example. There is no such thing as a "nonrefundable deposit." --66.227.xxx.xxx |
Security Deposit (by John... [MI]) Sep 10, 2016 11:02 AM
Message:
Typo: I said you need a "contact" -- I meant "contract", of course. :)
- John...
--66.227.xxx.xxx |
Security Deposit (by Kyle [IN]) Sep 10, 2016 11:33 AM
Message:
Like John said, it all depends on your signed agreement. I would have signed a lease when I collected the deposit, so the normal notice requirements and ELT would apply and the deposit deductions and return are clearly spelled out.
What does your signed agreement state? --73.146.xxx.xxx |
Security Deposit (by John2 [MI]) Sep 10, 2016 11:40 AM
Message:
If they signed your lease/contract- Your tenant does not have legal justification to end their lease, under Michigan law (Fox v. Roethlisberger, 85 N.W.2d 73 (Mich. 1957)), a landlord must make reasonable efforts to re-rent the unit—no matter what the tenants reason for leaving—rather than charge the tenant for the total remaining rent due under the lease. The tenant need to pay only the amount of rent the landlord loses because they moved out early. This is because Michigan requires landlords to take reasonable steps to keep their losses to a minimum—or to “mitigate damages” in legal terms. --75.128.xx.xxx |
Security Deposit (by Michele [MI]) Sep 10, 2016 1:07 PM
Message:
They signed a Rental Agreement that is worded "this agreement made on 8/2716 between (all our names) Landlord hereby agrees to rent to tenant real propert (address) commencing on 10/1/16 and monthly thereafter until 9/30/17 at which time this agreement is terminated. So does that mean it takes effect on 8/27 (because we signed that day) or 10/1 and I have to return deposit because it is not 10/1 yet. I told them that if I can find another tenant before than I could return their money (she wants it/he seems to not care) I said I don't want your deposit I want a rentor! Let me know. --70.194.xx.xx |
Security Deposit (by John... [MI]) Sep 10, 2016 1:41 PM
Message:
In my opinion, if that lease is signed, then it is effective. This would be little different than being 4 months into a 1-year lease and them telling you that they want to move.
Does your lease have an early termination clause? Can they give notice to leave before 2017?
Basically, with the lease signed, I would say that they are locked in. Therefore, yes, do as you said: try to get it re-rented as soon as possible. If it happens to rent, then great. If it doesn't, then they are responsible for at least October's rent until you find someone.
Also, just to note it, I would change how your lease is worded. I don't particularly like the "rent... commencing on DATE... and monthly thereafter." It just makes it sound too much like a MONTH-to-MONTH agreement, but with a termination date.
You can state that PAYMENTS are made on a monthly basis, but yours isn't really worded that way. As an example, ours reads: "We agree that [Landlord] leases to [Tenants] the following premises to be used for private residential purposes only [Address] for a term beginning October 1, 2016 and ending October 1, 2017 at noon ET."
The first clause then dictates that it is paid on a monthly basis by the 1st and such.
(This is a side note that I'm just mentioning. It doesn't really apply to your question here.)
- John...
--66.227.xxx.xxx |
Security Deposit (by michele [MI]) Sep 10, 2016 2:05 PM
Message:
Thanks john I agree when I was typing the wording I felt the same way. Guess what I will be redoing this weekend:) I have it listed and hopefully I will be getting another tenant. I will do like you said and use deposit for Oct rent and if someone comes sooner I will refund. I was so shocked! They both had such solid backgrounds in both their employment and rental histories. Apparently that didn't caring into their relationship. --70.194.x.xx |
Security Deposit (by michele [MI]) Sep 10, 2016 2:07 PM
Message:
It does have that they must give 30 days notice in writing. --70.194.x.xx |
Security Deposit (by michele [MI]) Sep 10, 2016 2:17 PM
Message:
Hey John, so to get off on another topic I see you are from MI. I have a cottage up north (Cheboygan/Rogers City Area) and am having a hard time finding flooring to use (besides carpet) that I can put down in an unheated cottage (we winterize during winter). Any suggestions? --70.194.x.xx |
Security Deposit (by John... [MI]) Sep 10, 2016 3:15 PM
Message:
I'm not sure on that one. My GUESS would be tile, but that's just a guess. Might be worth it to make a new topic about it since there are more informed people than I here regarding flooring.
We commonly do something like Allure -- but that IS sensitive to those kinds of temp changes. So, I wouldn't recommend it for that.
Good luck!
- John...
--66.227.xxx.xxx |
Security Deposit (by michele [MI]) Sep 10, 2016 5:31 PM
Message:
Thanks John,
I think I will need more luck with this last minute tenant thing!
Take care --70.194.x.xx |
Security Deposit (by Vee [OH]) Sep 11, 2016 6:22 AM
Message:
I interpret this agreement beginning in Oct, however there will need to be a written cancellation notice signed and sent by the future tenant - do they have keys? this is the key to holding the unit away from the manager/owner. --76.188.xxx.xxx |
Security Deposit (by Vee [OH]) Sep 11, 2016 6:26 AM
Message:
I for got to mention I have used allure in snow filled foyer at campus places and it holds up well but it does get cleaned at least bi-weekly, was laid down about 2005 and still looks great, for long cold duration be sure that it can in fact float, I imagine you may have to heat to 50-60 then roll seams again. --76.188.xxx.xxx |
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