Deposit refund / No Lease
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Deposit refund / No Lease (by Jer [PA]) Apr 12, 2021 10:26 AM
       Deposit refund / No Lease (by Ray-N-Pa [PA]) Apr 12, 2021 11:00 AM
       Deposit refund / No Lease (by Robert J [CA]) Apr 12, 2021 12:34 PM
       Deposit refund / No Lease (by Oregon Woodsmoke [ID]) Apr 12, 2021 2:37 PM

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Deposit refund / No Lease (by Jer [PA]) Posted on: Apr 12, 2021 10:26 AM
Message:

State Specific Question About: PENNSYLVANIA (PA)

Rented a house in PA and the person gave a security deposit to hold the property. At that time I did not have the lease ready for him to sign. (I allow him to have comcast come in and install his cable & tv service.) He than contacted me and said he changed his mind and no longer wants to go thru whit the rental and asking for his security deposit back. I did re advertize it and have a new tenant moving in the May 1. He was to move in on the April10th (Will lose 20 days rent)

Am I able to keep any of the deposit? --73.101.xxx.x




Deposit refund / No Lease (by Ray-N-Pa [PA]) Posted on: Apr 12, 2021 11:00 AM
Message:

What paperwork did they sign?

If it was a holding DEPOSIT, you owe them the money back

If the was identified as a holding FEE, then you are able to keep it.

The bigger issue I see, there is a reason why they changed their mind. You need to learn what that was (assuming it was your building) and change it if you can. --24.154.xx.x




Deposit refund / No Lease (by Robert J [CA]) Posted on: Apr 12, 2021 12:34 PM
Message:

Here in California there in No Such Thing as a "Non-Refundable" holding deposit. People can always change their mind and in the mean time you could have hooked another fish. --47.155.xx.xxx




Deposit refund / No Lease (by Oregon Woodsmoke [ID]) Posted on: Apr 12, 2021 2:37 PM
Message:

You don't take a holding deposit. You have a separate contract for a non-refundable holding fee or reservation fee. That contract gives the terms under which you hold the unit for them. Be sure it says "non-refundable" and emphasize that it is non-refundable to your applicants.

Be sure to include a drop dead date. The fee does not hold forever, only until *date* and after that the fee is forfeit.

Too bad, but you can no longer do a deal on a handshake. There are too many cheats and liars and people with no honor wandering around loose in this country.

If my state did not allow a non-refundable holding fee, then I would never hold more than 24 hours. You want it? Sign and start paying rent right now. Or wait and take your chances that it will still be available later. --76.178.xxx.xxx



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