Lease signed but no security depsot : ezLandlordForms

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Lease signed but no security depsot

Oliver S

started a topic over 1 year ago

Prospective tenant signed lease without seeing property. A lease has been signed by both parties with a move in date 2 months away. Landlord asked for security deposit to hold it but prospective tenant said no until he sees property. And that "his lawyer" advises him not to pay anything he sees property in person. (He has driven by it and saw plenty of pictures) landlord said he could not hold property without deposit. Tenant said he understood and would see it asap. Meanwhile landlord showed property to someone else who passed credit check and gave deposit immediately to landlord. Can landlord say to other tenant that the lease it not binding because no security deposit was paid?

1 Comment

Willson D

said 16 days ago

Hi Oliver - a lease signed by both parties is generally binding even if the deposit was never paid. An unpaid deposit is a breach of the lease terms, not something that makes the lease void on its own. The bigger risk is on the landlord side: renting the same unit to someone else could be seen as the landlord breaching. Safer to demand the deposit in writing under the lease and follow state remedies if it stays unpaid. Worth a quick check with a local landlord-tenant attorney before signing anyone else.