Verbal Commit to Rental without Deposit : ezLandlordForms

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Verbal Commit to Rental without Deposit

Walter B

started a topic over 15 years ago

How long can I hold a rental for a single family home by a verbal commitment and no security deposit? Can we continue showing the home and possibly rent to another party if that other party gives a security deposit? How much weight does a verbal contract hold here.

1 Comment

Donna

said over 15 years ago

I, personally would not hold a rental for a long term without some type of substantial payment such as the security deposit or the first months rent. I would also have the interested party sign the lease. If you contact your current prospective and tell them that you need a month's rent to hold the unit and they get upset; then you can tell them that you cannot hold it without a deposit.