If I took a deposit, do I have to rent to the person?

[Brad Thomas]

After going through showings and application, my business partner told a woman she would not relist the house (would pull the listing from Craigslist) if woman put down $500 good faith money to hold the place (rent is $1400/mo). Move in was 6 weeks away at that point. We just received the deposit -- 4 weeks later and only 2 weeks until move in. Annoyed (before the deposit check arrived), I relisted the place a few days back and have several hits worth pursuing. Do I have to rent to the original woman? Should I?

[James Wise]

@Brad Thomas

Only take a property off the market when you have cash in hand. I would not accept a personal check either as those bounce.

I would call the tenant and tell her that the check was mailed to late and that you will be sending it back to her and will be renting the property to other potential tenants.