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  1. #1
    Join Date
    Mar 2011
    Posts
    4

    Question When Can a Landlord Hold the Security Deposit vs. Issuing a Refund

    My question involves a security deposit in the State of: Florida

    Hello,
    And thank you all in advance for your input.

    I have a small rental for 650.- including all utilities. Also a 400.- security deposit.

    A lady was in love with the place and gave me a check of 400.- . (i think the check stated -deposit) I do not think it said security deposit.
    We agreed that she moves in on 3/15 and the 400.- check is a holding deposit and will be added towards, either the rent or the security deposit.

    We do not have anything in writing. We agreed verbaly for her to move in 3/15 even though it is/was ready 3/1.

    She first looked at the place on thrusday and gave me the check. I told her I will cash it on Friday the next day. She then texted me Friday morning saying for me to not cashing it just yet cause she was unsure of the measurements since she has a lot of clothing and it being a small place. She did come by a again in order to measure the place. She came with her friend which measured the place and took some pictures. She then said, everything is good and I can go ahead and cash the check which i did. She was excited to be renting from me.

    The next day -Saturday- she again texted me stating she is sorry and she wont be renting due to her having to much stuff and her wanting to come by to get the deposit back.
    I told her that I have to keep the holding/security deposit due to the following:
    I had 2 other renters that I had to turn down due to her agreeing renting the place starting 3/15. Both of the 2 other candidates were able to rent 3/1.
    I did contact both of the renters but unfortunatly they found something else in the meantime.
    She told me she will let her laywer take care of it.
    I told her she could at least come to some kind of an agreeement due to my loss but she insisted with her laywer.
    Oh, I do not have her address. I did call her to ask for it but got no answer so I texted her but still didnt get an answer.

    Her address was most likely on the check but I did not copy it.
    She never gave me her address.
    Everything was verbaly.

    Anyway, can I keep all or at least part of the deposit?

    I want to be fair here but she needs to understand that I have a big loss now.
    Currently I am looking for a new renter but its the first of the month and most people got something over the weekend I guess.

    Any help is highly appreciated.

  2. #2
    Join Date
    Mar 2008
    Posts
    1,995

    Default Re: Holding/Security Deposit Refund or Not I Am the Landlord

    Sounds to me like she rented the place for one day, changed her mind the next. When she did that, without a lease, she became a "month to month" tenant, normally requiring a 30 day notice to vacate.

    Tell her you're waiting for a call from her lawyer if she bothers you again. More than likely, if she calls a lawyer, she'll be told to go to small claims.

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: When Can a Landlord Hold the Security Deposit vs. Issuing a Refund

    Make sure you follow your state's laws in regard to retention of security deposits.
    Quote Quoting Florida Statutes, Sec. 83.49. Deposit money or advance rent; duty of landlord and tenant.
    (1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:
    (a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;

    (b) Hold the total amount of such money in a separate interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants, in which case the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord; or

    (c) Post a surety bond, executed by the landlord as principal and a surety company authorized and licensed to do business in the state as surety, with the clerk of the circuit court in the county in which the dwelling unit is located in the total amount of the security deposits and advance rent he or she holds on behalf of the tenants or $50,000, whichever is less. The bond shall be conditioned upon the faithful compliance of the landlord with the provisions of this section and shall run to the Governor for the benefit of any tenant injured by the landlord’s violation of the provisions of this section. In addition to posting the surety bond, the landlord shall pay to the tenant interest at the rate of 5 percent per year, simple interest. A landlord, or the landlord’s agent, engaged in the renting of dwelling units in five or more counties, who holds deposit moneys or advance rent and who is otherwise subject to the provisions of this section, may, in lieu of posting a surety bond in each county, elect to post a surety bond in the form and manner provided in this paragraph with the office of the Secretary of State. The bond shall be in the total amount of the security deposit or advance rent held on behalf of tenants or in the amount of $250,000, whichever is less. The bond shall be conditioned upon the faithful compliance of the landlord with the provisions of this section and shall run to the Governor for the benefit of any tenant injured by the landlord’s violation of this section. In addition to posting a surety bond, the landlord shall pay to the tenant interest on the security deposit or advance rent held on behalf of that tenant at the rate of 5 percent per year simple interest.
    (2) The landlord shall, within 30 days of receipt of advance rent or a security deposit, notify the tenant in writing of the manner in which the landlord is holding the advance rent or security deposit and the rate of interest, if any, which the tenant is to receive and the time of interest payments to the tenant. Such written notice shall:
    (a) Be given in person or by mail to the tenant.

    (b) State the name and address of the depository where the advance rent or security deposit is being held, whether the advance rent or security deposit is being held in a separate account for the benefit of the tenant or is commingled with other funds of the landlord, and, if commingled, whether such funds are deposited in an interest-bearing account in a Florida banking institution.

    (c) Include a copy of the provisions of subsection (3).
    Subsequent to providing such notice, if the landlord changes the manner or location in which he or she is holding the advance rent or security deposit, he or she shall notify the tenant within 30 days of the change according to the provisions herein set forth. This subsection does not apply to any landlord who rents fewer than five individual dwelling units. Failure to provide this notice shall not be a defense to the payment of rent when due.

    (3)
    (a) Upon the vacating of the premises for termination of the lease, if the landlord does not intend to impose a claim on the security deposit, the landlord shall have 15 days to return the security deposit together with interest if otherwise required, or the landlord shall have 30 days to give the tenant written notice by certified mail to the tenant’s last known mailing address of his or her intention to impose a claim on the deposit and the reason for imposing the claim. The notice shall contain a statement in substantially the following form:
    This is a notice of my intention to impose a claim for damages in the amount of upon your security deposit, due to . It is sent to you as required by s. 83.49(3), Florida Statutes. You are hereby notified that you must object in writing to this deduction from your security deposit within 15 days from the time you receive this notice or I will be authorized to deduct my claim from your security deposit. Your objection must be sent to (landlord’s address) .
    If the landlord fails to give the required notice within the 30-day period, he or she forfeits the right to impose a claim upon the security deposit.

    (b) Unless the tenant objects to the imposition of the landlord’s claim or the amount thereof within 15 days after receipt of the landlord’s notice of intention to impose a claim, the landlord may then deduct the amount of his or her claim and shall remit the balance of the deposit to the tenant within 30 days after the date of the notice of intention to impose a claim for damages.

    (c) If either party institutes an action in a court of competent jurisdiction to adjudicate the party’s right to the security deposit, the prevailing party is entitled to receive his or her court costs plus a reasonable fee for his or her attorney. The court shall advance the cause on the calendar.

    (d) Compliance with this section by an individual or business entity authorized to conduct business in this state, including Florida-licensed real estate brokers and sales associates, shall constitute compliance with all other relevant Florida Statutes pertaining to security deposits held pursuant to a rental agreement or other landlord-tenant relationship. Enforcement personnel shall look solely to this section to determine compliance. This section prevails over any conflicting provisions in chapter 475 and in other sections of the Florida Statutes, and shall operate to permit licensed real estate brokers to disburse security deposits and deposit money without having to comply with the notice and settlement procedures contained in s. 475.25(1)(d).
    (4) The provisions of this section do not apply to transient rentals by hotels or motels as defined in chapter 509; nor do they apply in those instances in which the amount of rent or deposit, or both, is regulated by law or by rules or regulations of a public body, including public housing authorities and federally administered or regulated housing programs including s. 202, s. 221(d)(3) and (4), s. 236, or s. 8 of the National Housing Act, as amended, other than for rent stabilization. With the exception of subsections (3), (5), and (6), this section is not applicable to housing authorities or public housing agencies created pursuant to chapter 421 or other statutes.

    (5) Except when otherwise provided by the terms of a written lease, any tenant who vacates or abandons the premises prior to the expiration of the term specified in the written lease, or any tenant who vacates or abandons premises which are the subject of a tenancy from week to week, month to month, quarter to quarter, or year to year, shall give at least 7 days’ written notice by certified mail or personal delivery to the landlord prior to vacating or abandoning the premises which notice shall include the address where the tenant may be reached. Failure to give such notice shall relieve the landlord of the notice requirement of paragraph (3)(a) but shall not waive any right the tenant may have to the security deposit or any part of it.

    (6) For the purposes of this part, a renewal of an existing rental agreement shall be considered a new rental agreement, and any security deposit carried forward shall be considered a new security deposit.

    (7) Upon the sale or transfer of title of the rental property from one owner to another, or upon a change in the designated rental agent, any and all security deposits or advance rents being held for the benefit of the tenants shall be transferred to the new owner or agent, together with any earned interest and with an accurate accounting showing the amounts to be credited to each tenant account. Upon the transfer of such funds and records as stated herein, and upon transmittal of a written receipt therefor, the transferor shall be free from the obligation imposed in subsection (1) to hold such moneys on behalf of the tenant. However, nothing herein shall excuse the landlord or agent for a violation of the provisions of this section while in possession of such deposits.

    (8) Any person licensed under the provisions of s. 509.241, unless excluded by the provisions of this part, who fails to comply with the provisions of this part shall be subject to a fine or to the suspension or revocation of his or her license by the Division of Hotels and Restaurants of the Department of Business and Professional Regulation in the manner provided in s. 509.261.

    (9) In those cases in which interest is required to be paid to the tenant, the landlord shall pay directly to the tenant, or credit against the current month’s rent, the interest due to the tenant at least once annually. However, no interest shall be due a tenant who wrongfully terminates his or her tenancy prior to the end of the rental term.



  4. #4
    Join Date
    Mar 2011
    Posts
    4

    Default Re: When Can a Landlord Hold the Security Deposit vs. Issuing a Refund

    Quote Quoting Mr. Knowitall
    View Post
    Make sure you follow your state's laws in regard to retention of security deposits.


    whom ever changed the title did NOT read clearly. pls change it back cause i am NOT holding a security deposit !!!!
    the question is NOT -when can a ll hold the security deposit vs. issuing the refund-
    i am not talking about holding a security deposit. i have a HOLDING deposit !!!!!!!
    there is a difference in a holding deposit and a security deposit. or am I wrong?

    thank you for the info.
    i was reading through the florida law but i cant find the part with the holding deposit .
    my renter did NOT even move in yet. she just changed her mind.
    sorry but it is very hard for me to read (i am a foreigner) and clearly i do not understand. could u pls translate in more plain english for me?
    what do i have to do now?

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