Gave away Keys too Early and Made a Mess of Things

[Brandon V.]

Wow did I make a huge mess of things and need some advice.

Had a new tenant, filled out the application, paid the application fee passed the background check and everything was fine.  Then went into the lease signing and he of course only brings in rent for September and asks if he can bring the security deposit the next day.  I of course stupidity agree and stupidly give him the keys to the place too.  I also made a mess out of the lease as well stating on the end of it that the lease is invalid if I didn't receive the security deposit by 9/1.  So now what I have is a full signed lease, with a paragraph saying that if I didn't get the security deposit by 9/1 it is invalid, and only have money for September rent.  I have called him three times yesterday, sent him 3 texts, and have gone to the property twice but he hasn't been there.  I haven't gone in the unit but I was able to see some stuff moved in.  

What would you recommend doing?

Thanks,

Brandon

Milwaukee Wisconsin

[Marcia Maynard]

Don't brow beat yourself too much. Have some patience too. This is Labor Day weekend. Wouldn't be surprised if you didn't hear back from the tenant until Tuesday. Banks are closed until then too, so if your tenant is going to get money out of the bank for the security deposit, they will do so after the long weekend.

Remain calm.

On Tuesday, stop by the property and talk with the tenant directly. Don't enter the unit ever without proper notice unless it's a life threatening emergency or the property is in danger. This is the first week of their tenancy, so there are likely to be a number of loose ends to take care of. The tenant is just settling in. Make sure you don't do or say anything that would ruin the relationship. Work together to sort it out.

Do not place a "Notice to Quit" on the door! Do not change the locks! Either would put this in a tail spin and reflect badly on you. Changing the locks would be illegal. Your tenant has rights of tenancy now, regardless of what you wrote about the agreement being void if the security deposit is not received. They have established residency. The courts would likely side with the tenant.

Have faith. If you properly vetted this tenant, they will probably have the security deposit money for you within the next few days.

Aim for open and honest communication. Remain professional, nice, firm and fair. Sometimes a little flexibility pays off. Aim for a win-win.