State Specific Question About: WEST VIRGINIA (WV)

Papers, keys, and possession all happen after funds are handed over. The advertisements get pulled down the next day.

Every time I've tried to "work with" someone who showed up to lease signing with some excuse as to why they didn't have all their funds together, I've regretted that I didn't gather up my papers and tell them, "No problem! Let me know when you've got it together, and if it's still available then, we can move forward."

Not sure what the penalty should be but from this day forward, do not hold an apartment, only lease to a qualified tenant with the funds to move-in.

The penalty should be you going back to land lording school. You "NEVER" give up a copy of a lease and especially if it's signed, unless you have the entire move-in funds. If the applicant gives you a cashier's check, then you can give them a copy of the lease, but not the keys until the check is cashed. ALSO, on the lease it should say that the lease if not valid until the funds are tendered (cashed).

Bob,

Common newbie mistake.

No penalty. It was not rented. You only had a promise without any commitment. Never again. Now you are a smarter LL.

Pain is a great teacher. The tuition to learn this valuable lesson was cheap.

I find that LLs don’t listen until they realize they lost money.

My policy: it ain’t rented til it’s rented - signed, CASH not checks, then give the keys. Marketing continues full speed until signed , paid in CASH or Money order no checks, then give the keys.

PS

My lease is clear: when I say SIGNED that includes the written move in inspection AND 4 Emergency Contacts per adult. EVERYTHING is in one staple.

My motto about this is "without money, I've got nothing"

I'll take a deposit sometimes but I understand there is risk.

Pain is a great teacher though.

This time, you won't be reimbursed for any lost time.

Next time, you'll do better - if you listen to what others here have said.

I think you should be happy you have had a lucky escape. These would have been nightmare tenants and you got away without them even moving in.

I suggest a signed release from them that they are giving up the unit.

Bob,

And realize when things like this happen they did you a favor.

You dodged a bullet. They would have been trouble.

Frustrating, but normal.

Always remember, PEOPLE LIE.

The PTSD thing? I don't trust that excuse. But it doesn't matter. One excuse is as good an another.

Rent on!

BRAD

I ran into this for the first time early on. I still remember sitting in the grocery store parking lot at night, staring at my phone and trying to wrap my head around what I was hearing. :P

A single guy was looking for his first place. He lived in his mama's house literally a block away. He had a good job, and passed screening, so I said, "Move-in costs are $x. How does your schedule look?"

And he said, "Well, I don't want to waste any of my weekends or evenings moving into the new place. My next day off is at Thanksgiving."

And it's, like, right after Halloween. He was basically expecting me to keep it on hold for three or four weeks because he didn't want to (gasp) use an evening or a weekend moving his stuff a block from his bedroom in his mom's house into his own place.

I'm flabbergasted at this unique viewpoint, but I told him, "No problem! So, if you're not able to move in right away, I can take it off the market until it lines up with your schedule. There's a holding fee of (1/2 rent), and we'll do papers and everything by Thanksgiving. That way, you won't have to waste your evenings or your weekends, but I won't rent the house to someone else."

"So, I pay (1/2 rent), but don't get to actually be in the house?"

"No, not until we do papers and the security deposit and the first month's rent. It just takes the house off the market until it lines up with when it's convenient for you."

"Oh. I think I'll pay $x and get the house."

Wise choice, hon.