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As landlord forgot to put money in separate custodian bank account for deposit. What are worst legal implication. Money is not spent; money is safe and we are ready to put accumulated interest for the rental period. What are the worst implication as landlord perspective.
Yes; I did not put earlier; I should have put in within 30 days. I have already put in custodial account in bank account last week. I am willing to pay for accumulated interest which is very minimal based on current interest rate; even i am willing to pay little more in interest. They will be moving out by end of June.
But they are asking for bank details account as of today; I don't have bank account statement which will be generated by next month; I can provide only bank details.
Then come clean and be honest with them. They're your tenants in a business deal and you should be honest with your tenants the way they should be honest with you. This sort of conversation will benefit you in the end when there's a leak in the roof and they feel comfortable enough to tell you about it until waiting until it's too late.
They want details you can't provide, just show them bank statements that you have the money and will be providing interest, that's all they want to really be sure of this close to moving out.
Thanks Jaymoney; is there any legal statement law that will verify your statement. Also account details that i will provide will have account opening details which will have very recent date.
Look man, you screwed up. I'm saying you should own up to it and tell the truth. You owe them 7% and they can write you and tell you to put it against the rent and then they don't owe you a security deposit (see c.5: http://www.state.nj.us/dca/divisions...depsit_law.pdf)
Because this is on you to make it right, you should make it right, be honest and hope they treat you the same way: with respect. The same respect you'd want if they knocked out a window or whatever and had to apologize to fix a problem.
If you're not honest with them, don't be shocked when they google the same thing I just did, write you a letter to get their security deposit applied against the rent for the final month and then punch a hole in your wall on the move out leaving you a fake forwarding address knowing that you have no power over them with regard to staying in touch to get that deposit back.
I don't mind giving them 7% extra and give them option of using their security deposit towards rent.
I am more worried about he takes me to the court and i end up paying 3 times of security deposit; i read about this somewhere.
I don't mind giving them 7% extra and give them option of using their security deposit towards rent.
I am more worried about he takes me to the court and i end up paying 3 times of security deposit; i read about this somewhere.
You want better advice that will actually be specific to your case? Pay a lawyer. But if your tenants are reasonable people you're better off just talking to them. They're your tenants, you should know better than anyone else if they're the kind to sue your or ask for unreasonable things not in the lease.
And if you don't know them that well, it's a cheap lesson that you should know what kind of tenants you're letting onto your property from now on. As a tenant I knew my landlords well enough to talk to them about a lot of things off the record. Because they respected me as a tenant I respected them as a landlord. Just because it's a business deal doesn't mean you shouldn't still treat each other as people.
hi! My appartment company did not notify me about place where deposit is saved. I did not know how this could be proceeded.. I did not receive any interest. What can I do to resolve this issue? Are there additional laws that describes such situation? Thanks!
hi! My appartment company did not notify me about place where deposit is saved. I did not know how this could be proceeded.. I did not receive any interest. What can I do to resolve this issue? Are there additional laws that describes such situation? Thanks!
Write or call them and ask for the information about where it's saved.
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