Posted on: 03rd Aug, 2010 02:26 pm
We just a lease for a 1 yr home rental today . 4 hours later we wish to cancel - the landlord wishes to keep our $2000 security deposit Can he legally do this? We gave bankers checks to a rental agency.
Pam
Pam
Welcome pdevellis,
As far as I know, the landlord will be able to keep the security deposit as you broke the lease agreement. The landlord can keep your deposit to cover a month's rent. However, you should contact a local attorney in order to find if you'll have the right of rescission in this case. If you've this right, then you would be able to cancel the deal within 3 days of signing the contract and the landlord will have to return the security deposit to you.
As far as I know, the landlord will be able to keep the security deposit as you broke the lease agreement. The landlord can keep your deposit to cover a month's rent. However, you should contact a local attorney in order to find if you'll have the right of rescission in this case. If you've this right, then you would be able to cancel the deal within 3 days of signing the contract and the landlord will have to return the security deposit to you.