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Old 06-07-2011, 08:27 PM
 
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If a tenant signs a new lease do I hold his last months prepaid rent until the end of his new lease?
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Old 06-07-2011, 09:02 PM
 
Location: Oroville, California
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Yup. About the only change would be if he stays there long enough for his old deposit to become less than the current deposit requirement. You could ask for the difference to bring it up to current, but most landlords don't.
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Old 06-08-2011, 08:17 AM
 
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To be clear, in California, there is no such thing as prepaid rent. No matter what you call all those funds collected over and above the 1st month's rent, they are called security deposit.

What you have is a security deposit and, yes, that is normally just kept until the end of tenancy.

I would update the new lease clarifying that the funds you are holding is a security deposit.

I would also read this http://www.dca.ca.gov/publications/l...k/catenant.pdf

It is your responsibility as a landlord to understand California tenant law.
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Old 06-08-2011, 08:51 AM
 
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Thanks
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