Re: Should I refund the deposit if candidate cancel?

Re: Should I refund the deposit if candidate cancel? by OK-LL on July 14, 2012 @11:17

What type of paperwork accompanied the $1,000? Did you have him sign a Holding Fee Agreement and return it with the $1K? Or did he just send you $1K cold, no papers, no written understanding of the purpose of the $$. In the absence of anything in writing, I would say you were in agreement that the $1K was tendered to hold the rental for prospect's move-in and is non-refundable as a holding fee. You might lose this one if push comes to shove, but that would be my position. You have been harmed financially because you took the rental off the market on this guy's promise to sign a lease and his $1K evidences his promise; so at the very least, let him sue you and you countersue for actual damages.

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No any paper work, is text msg a legal binding? by AZLandlord (AZ) on July 14, 2012 @12:14	[ Reply ]

On the check, he wrote down the address, and said deposit to rent the house. In text message, we agreed to start renting on July 1st, 2012. Now he cancel the intention of renting, I do suffer the damage of losing rent in July. He also agreed on text message he was willing to take $500 loss. But i am not sure if test messages are a legal binding?

Re: No any paper work, is text msg a legal binding? by Jake on July 14, 2012 @13:14	[ Reply ]

If you had the whole transaction to do over again, what would you do differently?

Next time, here is what I will do by AZLandlord (AZ) on July 15, 2012 @14:19	[ Reply ]

next time, I will be sure to get in writing that it is a non-refundable holding fee.