Landlord Question and Answer Forum

does the security deposit have to be refunded if tenant changes mind about renting the property .The property was held for 3 weeks tenant changed their mind 4 days before moving in. property is in Florida

You may have to since you called it a sec.dpst. Sec.dpst are held for damages and unpaid rent. Since tenant never took possession you probably can’t deduct for rent. Your next move would be to go to court for damages (breaking lease)… rent due until new tenant is found and possibly cost of finding new tenant….This is why when a contract is signed, it should be call a non-refundable hold deposit which is transfer to sec.dpst when new tenant gives you the balance due and you give them the keys. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013

Posted by Bob R, CA on Saturday, February 2, 2013

Thank You

Posted by Barbara D, FL on Sunday, February 3, 2013