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  1. #1
    Join Date
    May 2009

    Default Non-Refundable Holding Deposit

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

    We are renting out a single-family home in California. An interested party gave us a $4000 cashiers check to hold the property until their move-in date. They were informed via e-mail and in-person that the check would be non-refundable if they did not move in as scheduled; otherwise it would apply to their security deposit.

    They did not sign a lease at the time of deposit, telling us the delay was because the husband was out of town. They assured us in writing (e-mail) that they intended to rent the property, but then proceeded to go back and forth with over lease details. Now, two weeks before move-in, they say they do not want to sign the lease to rent the property and want their money returned.

    What (if any) of the original $4000 holding deposit are we entitled to keep? It will likely take 30 days to rent the property; the monthly rent is $5000. Thank you!

  2. #2
    Join Date
    Jan 2008

    Default Re: Non-Refundable Holding Deposit

    Under California law, you had a verbal agreement which is enforcable in that state...which is provable by the check. The tenants are in the very least, responsible for a full months rent. If you re-rent sooner, you must return any unused portion of the amount paid.

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