|
Support Center
Home
FAQ
Forums
Tickets
Return to ezLandlordForms
Enter your search term here...
Search
New support ticket
Check ticket status
1-877-367-6771
Start a new topic
Discussions
ezLandlord Questions and Answers
General Property Management
Lease Purchase Deposit
G
George J
started a topic
over 14 years ago
I am creating the documents for a lease/purchase agreement. The deposit to be paid will be non-refundable if the purchase is not completed within the lease term. Should the "security deposit" be listed as $0 and the non-refundable deposit amount shown elsewhere in the contract? By listing the deposit as a "security deposit", would that make it legally "refundable"?
1 Comment
D
Donna
said
over 14 years ago
I would have tenant pay both. The non-refundable deposit is to ensure that the tenant purchases the property. If the sale fails to go through, you would get the deposit. A security deposit is to ensure that rent is paid as well as any other financial obligations plus it protects you the landlord against any physical damages to the property.
Login
to post a comment
More topics in
General Property Management
Covid-19
Renter paid Initial lease payment but never ez signed
How to Utilize The PayStub?
SHOULD BOTH NAMES BE ON LSE IF TENANT AND GIRLFRIEND BOTH LIVE THERE
PA Landlords
transfering leases on a sale.
Credit Checks
Upset tenents.
Month to month rent increase
Apartment Hotel question
ezLandlord, Inc. 22228 St. Barts Lane Estero, FL 33928
BECOME A MEMBER
-
DOCUMENTS
-
TENANT SCREENING
-
RENT PAYMENT
-
PRICING
-
RESOURCES