The Landlord Protection Agency  
Main Menu, Landlord Protection Agency homepage Membership With The Landlord Protection Agency Free Landlord Services Member Services  

Re: Withholding Security Deposit for early Termination - Landlord Forum thread 355954

Free Landlord Newsletter

Prospect Card

FREE BONUS Forms Disk for
2 -5 year LPA Members


Re: Withholding Security Deposit for early Termination by Anonymous on February 1, 2018 @07:47

Mishandling of security deposits is a mistake frequently made by landlords that can land them in hot water.

The nature of a security deposit and what deductions can be made from said deposit are determined by your state law. Nothing in your lease determines how a security deposit can be used. Nothing the tenant says determines how a security deposit can be used.

Does your lease include any kind of reasonable early termination fee? A court will expect you to re-rent the unit as soon as possible. 11 months is not reasonable.

If a tenant is going to leave, they're going to leave. Your goal as a businessperson needs to be protecting your business and your livelihood. This means -

- Handle the security deposit in accordance with state law.
- Focus on getting the unit re-rented.
[ Reply ] [ Return to forum ]

Re: Withholding Security Deposit for early Termination by mdk0420 on February 1, 2018 @13:00 [ Reply ]
Yes it has an accelerated clause if the contract is breach. This means that the whole lease becomes due immediately, like a mortgage would in breach of contract. Similar to an early termination fee but it is a fee based on how many months are left. She has until October until the lease ends. and she is moving out in March. So she'll have 7 months of unpaid rent left when it accelerates.
I figured the court will no expect her to be liable for all 7 months, as taking 7 months to rent a place means there are some serious issues. What is more reasonable? Simply 1 month? Maybe 2? I do understand that things happen in life and if she has to leave, so be it. But it is very frustrating that my lease is being broken early. And if no consequences then what is the point of a lease besides binding yourself in it, and not the tenant?

Log in

Rentals Available
Rentals Wanted
Realty Brokers
Landlord Articles
Tips & Advice
Tenant Histories

Other Areas
Q&A Forum
Free Forms
Essential Forms
Landlord Tenant Law
Join Now
Credit Reports
About Us
Site Help

Contact The LPA

© 2000-2018 The Landlord Protection Agency, Inc.

If you enjoy The LPA, Please
like us on Facebook The LPA on Facebook
Follow us on Twitter The LPA on Twitter
+1 us on Google