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Re: Security Deposit check bounced - Landlord Forum thread 359127

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Re: Security Deposit check bounced by Garry on March 8, 2019 @17:47

First of all, even though a person passed your background check, you still have just met that person, and you don't know much about them yet. For the first 3-6 months of your LL/T relationship, you should accept only cash for the deposit and rent from them. Call this person back up, and tell them they must bring you cash by March 15, and you will exchange the bounced check for the cash.(plus whatever amounts your bank charged you for the returned check) Tell them if they cannot do that, you will need to check with your local police dept. to see if it's against the law to bounce a check----in most cities or states, it is. Also tell the T that they will not get keys to the rental until the deposit is repaid in cash.

And, no, you cannot just withdraw the "offer". As long as the T offered to replace the check with cash, you must follow thru with that for a "reasonable" amount of time (1-2 weeks). The only way to get out of the lease, is if both parties agree to it, in writing. Besides, they might only be "guilty" of not managing their check book correctly, which is not a crime. It only becomes a crime when they fail to correct their mistake.
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Re: Security Deposit check bounced by Brad on March 15, 2019 @17:06 [ Reply ]
I don't know what state you're in. But, you can withdraw the offer if you wrote in your agreement that all funds must be made available prior to lease being valid. And, put a date and "time is of the essence."

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