Tenant signed lease but wants to back out ahead of move in

[Bianca Rodrigues]

Hi All!

First time landlord here. I have a three family apartment building where I’m renting the third floor to travel nurses. I just recently had a nurse sign our lease (expected move in was June 11) and now she wants to back out of the lease because she found another place. My lease doesn’t have anywhere stating about early termination of the lease (my fault) but isn’t a lease a legally binding contract once signed? Is she able to just say she wants out and we’re supposed to allow it?

TIA!

[Steve Vaughan]

@Bianca Rodrigues we require holding monies to lock up a place for somebody.   This converts to security deposit funds when they move-in,  but is forfeited if they dont and helps prevent people from changing their mind like this.

The bad news is you're probably out on this one.  The good news is you still have time to fill it and can adopt a holding $ policy going forward.