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Updated almost 11 years ago,

User Stats

299
Posts
47
Votes
Roy Gutierrez
Pro Member
  • Investor
  • Oak Park, MI
47
Votes |
299
Posts

Refuse to give deposit until the day of move in

Roy Gutierrez
Pro Member
  • Investor
  • Oak Park, MI
Posted

Well I have this issue, my house is 90% completed (I completely rehabbed it and looking good if I may say so!), it should be finished this weekend, new appliances coming in, touch up paint, install new counters, and ready to move, I picked a group of 3 guys (2 lawyers), I was asking for first,last, 1.5 security deposit but they said first and security deposit and I gave in b/c their references panned out.

Well, I told them lets get together and sign the lease and give me the deposit so I can hold the property. They came back with:

"We will give you the 1.5 months security deposit and 1st months rent on May 1 when the house becomes move in ready and we receive the keys."

I definitely see their point that they're covering themselves for not getting an unfinished house, but I can't risk losing a month if they don't move in, I feel like going to the people that came at #2,

How would you guys handle this?

  • Roy Gutierrez
  • Loading replies...