Signed rental agreement with tenant, check has not cleared.

[Leah N.]

We recently signed a rental agreement and the tenant asked us to hold the deposit and 1st months rent check till Monday. We did not give her the keys. We have been unable to contact her, and the bank states her account does not have the funds available. Are we still under obligation with her, or can we just go ahead and relist it for rent? I live in Ohio. thanks

[Jon Holdman]

First months rent and deposit in cash or money order only.

At this point, you may be stuck. You signed the lease, she gave you the check. You agreed to hold the check until Monday, which should have been a clue the money wasn't there and, at best, will be there Monday. If you can't get it cashed on Monday, I wouldn't hand over the keys. Simply tell them to take the check back, and return with cash.

A call to your attorney might be in order.

I did agree last weekend to hold a house for someone who would move in on the first. But they paid a non-refundable, cash deposit, and we only signed an agreement to hold the unit. If they show up on Monday with rent (in cash or MO) and sign the lease, the deposit becomes their security deposit. If not, I keep the deposit and all the people that have been calling get called back.