Can Security Deposit by used as Holdover by Tenant?

[Ace A.]

Hi All,

So my tenant finally left my rental because he was buying a house. He wasn't sure when he was going to close so I wrote him a 45 days vacate letter to leave my property thinking that would be enough time plus I didn't want to miss out getting a tenant before school started. I showed the property to multiple people during this time and a family signed a lease with me to move in a few days after said date. Well, my tenants house didn't close and he wouldn't move out, giving me all sorts of drama, so my new tenant walked.

Just a few days ago, my tenant house finally moved out and it was 21 days after he was supposed to leave. My lease has this clause regarding Holdover.

“Holdover by Tenant - Tenant realizes that when the lease expires or when notice has been received by Landlord of Tenant's intent to vacate on a given date, Tenant's failure to vacate on the date given or required may cause Landlord significant legal and economic difficulty. Should Tenant remain in possession of the premises without the consent of Landlord after the natural expiration of this Lease, Tenant agrees to pay Landlord $50.00 per day in addition to regular rents until premises is vacant or a new Lease is negotiated and signed by both parties.”

I spoke with a property management instructor (I’m also a Realtor) and she told me that I can completely use it, however I'm not so sure if she has any real world experience regarding this issue.

What do you guys think? Have any of you guys use this against a tenant’s security deposit?

Thanks for the support!

[Wayne Brooks]

".....when lease expires, or notice received By the landlord...".  You gave the notice to terminate, Not the tenant, apparently.