I am a Property Manager in San Jose, CA. I have just approved qualified tenants and I notified the property owner.
The lease agreement will commence on December 1, 2023. The property owner would like to make the Security Deposit non-refundable from November 10, 2023, to December 1, 2023. The property owner wants some security because we are now taking the house off the market for about three weeks.
Is it legal to make the Security Deposit non-refundable prior to the tenants moving in the house?
Any input would be greatly appreciated.