General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Security Deposit Return.
Hello BP,
I had a couple sign a 1 year lease with me and pay a $1000 security deposit on May 8th. Their move in date was set for June 30th. I was notified by the couple on May 24th that they want to break their lease because they "might separate". They never moved in, they never received keys, that was all set to happen May 30th as described in the lease, so they could begin moving items in the house. I am actively searching for a new tenant. My property is listed on several sites & I have a for rent sign in the yard.
If I don't find a tenant by July 30th, am I legally able to keep their deposit and apply it to lost rent, since I haven't found a qualified tenant after reasonably trying to mitigate my loss/damages.
Any info is appreciated.
Thank you!