Re: Didn't sign lease but paid security desposite.

Re: Didn't sign lease but paid security desposite. by NY-LL on March 8, 2008 @05:41

The security deposit and first/last months rent are procedurally provided in advance of move-in. In mosts states (Pennsylvania LLs to clarify), the LL and property owner is entitled to keep the security deposit to cover the first month's rent losses. The LL can use the rent to recoup for re-advertising costs as well as the lost rent, until a qualified tenant is located. The fact that tenants did not sign an annual lease only means the LL cannot pursue collections on the entire annual rent balance (or uncollected portions thereof).

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Re: Didn't sign lease but paid security desposite. - Landlord Forum thread 152564