Hand money : ezLandlordForms

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Dennis C

started a topic over 6 years ago

I had a potential tenant sign and lease and give me hand money to move in on the 1st on the next month. He was planning to bring the remaining about the the deposit in 5 days. He said he didn't have any checks and that was the soonest he could get to the bank. After the 5 days, he texted and said he changed his mind. He wants the $390 deposit he gave me back. This was after I pulled all the adds and told the other potential tenants that the space was already rented. Does he deserve that deposit back or not? I am in Pennsylvania

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Scott H

said over 6 years ago

Tell him you'll deduct what ever costs to relist the property and lost rent from the deposit and refund what ever is left. If you lose more than $390 you can send him a bill for the lost money. If he tries to sue you for the $390 you can use the bill as a counter suit. Or just give it back if its not worth the headache.

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Scott H

said over 6 years ago

I've switched to calling the deposit a holding fee and when they move-in it is credited towards their a deposit. that way there is no question. I have them sign this: Receipt of Holding Fee This receipt is acknowledgment of receiving $xxxx Holding Fee from XXXXXXXXXX (Applicants) to hold the rental Home at the following address: xxxxxxxxxxx, Chesapeake, VA until September 1st, 2018. If the home is not available at the agreed upon date the landlord will make a full refund of the fee without interest, and with no liability or penalty to either party. This Holding Fee will be applied to the security deposit when Applicant Pays 1st month's rent and takes possession of the above-described Home. If Applicant fails to pay 1st month's rent and/or take possession. The landlord may deduct any additional costs to find a new tenant from the holding fee including but not limited to: advertising, realtor fees, and the pro-rated cost of vacancy. Receipt of copy acknowledged.