Cancelling A Lease Before The Tenant Moves In

[mcmxc17]

If I have a propective tenant who was unable to come up with the rent and security deposit prior to moving in and taking the key, can I cancel the sgned lease? It says in the lease when and how the lease was to start and the tenant was not able to come up with all the rent and security. I plan on refunding all the monies already given. What would my liabilities be for doing so?

[aaron]

Laws are different in each state. What was the purpose of the money you accepted?

[mcmxc17]

NY, first 2 months rent and $500 to security. Balance of security was not paid prior to the start of the lease.

[aaron]

If this is NYC or a rent controlled unit elsewhere, you'll have to explore local laws.

You are stating that the lease is now in effect, but that the tenant has not taken possession? Have you spoken with the tenant about this situation?

[mcmxc17]

That's right, they have not taken possesion of the key or property. Am I just liable for any damages they "may" have incurred?

[aaron]

I am not clear on the facts. If the tenant was supposed to move in on Sept. 1, but did not because he has not met the condition prerequisite to moving in and wishes to abandon the lease, contact him tomorrow about sending him his refund.

[mcmxc17]

They may still want to move in, but I do not want them to. Between a low credit rating and now not being able to come up with the security before moving in, I am no longer willing to risk renting them this property.