deposit to hold rental : ezLandlordForms

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Randi H

started a topic over 12 years ago

I live in Washington State and wanted to know about accepting a security deposit to hold the rental. I have a renter who will move in October 1st but would like to know if I have a right to keep the security deposit should they change their mind.

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Karen S

said over 12 years ago

Did they sign the lease already? If they sign it, it may be possible.

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Bob R

said over 12 years ago

Just call the deposit as a 1st months rent. Let them know that if they change their mind, it’s non-refundable. Put this in writing and make sure that they sign/date the letter. Also, don’t give them keys or allow them to store anything until you receive the sec.dpst. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance