I was trying to get an apartment with my husband, but our credit is bad so we needed 2 co signers. My husband and I signed the lease but then our co-signers backed out on us. The apartment complex told us that they had the right to keep our security deposit. Is this true? My co signers names are also on the lease, they just didn't sign it.
2007-09-27 08:36:36 · 9 answers · asked by ricard h 1 in Business & Finance ➔ Renting & Real Estate
No, if you never moved in you don't and the apartment management didn't sign the lease they can't keep your money.
2007-09-27 08:40:05 · answer #1 · answered by shipwreck 7 · 2⤊ 2⤋
Were you offered the apartment even without the co-signer? That will be the question. If the landlord agreed to give you the apartment and you chose not to take it and they held the apartment for you then yes you probably owe them one month's rent They can keep one month's worth of the security deposit to cover this.
If the co-signer backed out so the landlord refused to rent you the apartment then he has to return the security deposit
IF
this was a security deposit and not money collected for any other reason such as an application fee.
Who gives a security deposit for an apartment they have not already been accepted for?
2007-09-27 16:29:06 · answer #2 · answered by ebosgramma 5 · 0⤊ 0⤋
It depends on the state and what you signed. Here is California, you can't keep a deposit unless the applicant has signed a statement that says if the default, then we can keep so much for the time it was off the market, advertising, and a fee for our time, but not if they don't. If you can't qualify for the apartment on your own, and your cosigners won't sign the lease, then the apartment complex is the one that is denying you, so they shouldn't be able to keep the deposit. But again, you have to check where you are located. In California we have a Fair Housing Commission, that helps resolve cases like this. Check for something like that in your area.
I always hate to hear about problems like this, as it makes us professionals look bad...
I hope you get it all straightened out.
2007-09-27 15:44:43 · answer #3 · answered by Angiej1213 4 · 0⤊ 0⤋
As for keeping the security deposit, I have never heard of that but I have heard of people in your position, having to pay a larger deposit before moving in. Check the deposit situation out legally before signing the lease.
2007-09-27 15:42:26 · answer #4 · answered by Shortstuff13 7 · 0⤊ 0⤋
They may have the right to keep the deposit.
Did they inform you that it would be considered some kind of "application fee" even if you did not ultimately lease for any reason? Did they inform you that it would not be refundable? I rather suspect they did not, or you would not be asking your question.
They are NOT entitled to accept your money as a security deposit, and then convert it into a non-refundable fee.
Look into small claims court.
2007-09-27 15:57:09 · answer #5 · answered by open4one 7 · 0⤊ 0⤋
Here in NC we can legally keep a security deposit unless you back out within 72 hours. This will cover the time the property kept the unit off the market for you.
2007-09-27 16:12:29 · answer #6 · answered by brandyrhi 2 · 0⤊ 0⤋
Did you ever move in? Was it a security deposit that they are keeping or some other type of deposit? If it is a security deposit, your state law would control how and when they can keep it. If you post your state, I will post the statute.
2007-09-27 15:40:35 · answer #7 · answered by Anonymous · 1⤊ 0⤋
if you actually move in then you accepted the lease, also they all do not need to sign at least in california, go to your department of real estate website for you state and look it up.
2007-09-27 18:22:05 · answer #8 · answered by mscarriem 3 · 0⤊ 0⤋
Is this their basis for keeping the security deposit? If so, then that is ILLEGAL.
Security deposit is for damages and lost rental income, that's it. NO other purpose.
2007-09-27 16:46:34 · answer #9 · answered by Expert8675309 7 · 0⤊ 1⤋