Question: What to do with first tenant's security? Repay in full, repay minus 15 days lost rent, or repay minus lost rent and daily $30 late fees in lease I didn't sign? --71.60.xx.xxx

In the future you should start using a holding agreement that outlines these what-ifs. If I was in your situation, I would keep the deposit and send his security deposit accounting stating that he failed to provide 30 day notice of cancellation and I’d be fully prepared to have it challenged. --174.193.xx.xx

Laws in my state are pretty punitive for improperly withholding the security deposit. Ask yourself what a judge would do if you end up sued over this, and act accordingly. --104.230.xxx.xxx

I agree that your paperwork is not the best. Also, in Pennsylvania, generally a magistrate will allow 10% late fee. I believe per diem fees, while not illegal, are not approved, even if in the lease. --98.237.xxx.xx

If a lease is e-signed by tenant only, but not signed by landlord, is that still a legal document agreed to by tenant? My terms for the security deposit was agreed to by tenant? --71.60.xx.xxx

Next ! --69.130.xxx.xxx

No per diem fees - it's a 'security deposit'. Per diem is the daily rent rate for less than one month. 10% late fee? That means a tenant can stay forever just paying 10%? --71.60.xx.xxx

T was qualified and approved. Just didn't pay first months rent before moving in. --71.60.xx.xxx

I assume they didn't move in cause you didn't give them the keys cause they didn't pay first month's rent ... And you have already rented the place. For me I would refund the entire security deposit the same way they paid it. Or write up a paper and mail it back to them dissolving the business. The best. Clean cut. Otherwise it will haunt you for a long time. --172.59.xxx.xx

You can add a clause to your application to take care of the holding fees but we get the deposit and first month's rent up front and in the lease it states that anything collected prior to move-in are holding fees will be lost if the tenant doesn't move in. You should keep the deposit because it is a holding fee for the property. And you had to go through the expense of re-advertising it, re-qualifying and re-renting the unit. --73.135.xx.xxx

They called it a security deposit not a holding fee. Sign up for the convention and learn the difference. It's a day changer. --172.59.xxx.xxx

Part of my screening requirements are that tenant must submit 3 months of bank statements. That way, I can see if they're barely getting by or have some savings to handle the rent. I can also see if their claimed income is accurate. --108.201.xx.xx

plenty [MO]: first tenant said their move was delayed. Maybe till end of month.... I don't care when they move in but the rent was due 1st. Whatever they do after that I don't care. --71.60.xx.xxx

So they didn't want to hold their position and pay a month and not live there. But the issue is you didn't sign the lease so I would not pay you either! --172.59.xxx.xxx

Yep, get bank statements in PDF. Can't fool me then? --71.60.xx.xxx

Since your agreement didn't address the consequences of the tenant failing to pay the first month's rent and take possession, I would deduct rent from the 1st through the 14th and refund any balance. --98.174.xxx.xxx

See you at the Convention? --68.229.xxx.xxx

Jim Tim .. the landlord didn't sign the lease so why should they pay! Return the entire security deposit or risk explaining it to the judge. Not worth my list of sleep. --172.59.xxx.xxx

PDFs can be easily altered. Just sayin' --172.59.xxx.x

How do you know they aren't going to clean out your account? --24.101.xxx.xxx

Ray-N-Pa [PA]). clean out my account? WYF you talking about? --71.60.xx.xxx

As said above, you should have taken a non-refundable holding fee instead of a security deposit. IMO, you are now obligated to comply with your state mandated process for withholding/returning an SD, even if you give the whole thing back. --107.141.xx.xxx

It's been suggested that since you didn't give up the keys, sign the lease or receive the 1st month rent, a landlord-tenant relationship does not exist. That's reasonable, however, you keep referring to this person as "tenant", not applicant. Don't call him a tenant until he has legal possession of your property. If this is a scam, and he has any evidence that you call him "tenant", a judge might agree with you and create that relationship with a wave of his magic wand. I mean gavel. --107.141.xx.xxx

Maybe you are the scammer. --172.59.xxx.xxx

Something doesn't make sense? --73.190.xxx.xxx

My holding fee agreement states the funds can only become part of move-in money when rent is paid in full, declaration page of insurance is in the office where the lease is signed - max delay is 14 days from this time the holding fee is forfeited and attempted move-in is a failure - no keys issued, no refund of any kind. --184.59.xxx.xx