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The rental market is crazy in my town right now and there is a lot more demand for houses than supply. I met with a renter I spent two days pre-screening and he signed the lease but said he couldn't pay the deposit and 1st months rent until the move-in day. I also found out that he smokes. Later the same day a got a call from a woman who sounds like a better fit, can pay all fees now and wants a longer lease! Can I back out of the lease with renter #1 since no money has been deposited yet?
I strongly disagree. If the lease was signed with both parties agreeing that the tenant would pay the first month's rent and the security deposit on the move-in day then, yes, you have a signed binding contract and he hasn't yet broken any of its terms. If he failed to pay you the monies due on move-in day then the contract would be broken. A contract doesn't require monies handed over to make it binding and you agreed to this arrangement.
As suggested, check your state landlord tenant laws which you'll likely find linked in the first "sticky" on this forum. I don't believe state laws generally address this specifically but you can take a look - and in any case if you're going to be a LL you should read them carefully so you know what your responsibilities are as a LL. Good luck!
I had put "No smoking" in the add but I don't think it is in the lease. We both signed the lease and the lease does say that the fees are due on lease signing-not move in day. I think this all boils down to ethics. Although I would rather have the more desirable tenant, I can't prove that the less desirable tenant is really bad. By the time the move-in date comes, the better tenant will probably have already found something else.
This has been the strangest rental experience I have ever had.
Probably at least 10 renters I considered prime stated that they wanted the house but wouldn't turn in their app! The renters I really didn't want were calling me night and day. I waited as long as I could but felt I finally had to move and just picked through the apps I did had and went with the best one. It seems that flakiness and lack of follow-through have become the norm rather than the exception and I don't want to add to that by becoming one of them-BUT on the other hand I am going to have to deal with this renter for a couple of years. I am just not getting a "Warm fuzzy" for renter #1 but am for renter #2.
The rental market is crazy in my town right now and there is a lot more demand for houses than supply. I met with a renter I spent two days pre-screening and he signed the lease but said he couldn't pay the deposit and 1st months rent until the move-in day. I also found out that he smokes. Later the same day a got a call from a woman who sounds like a better fit, can pay all fees now and wants a longer lease! Can I back out of the lease with renter #1 since no money has been deposited yet?
I would definitely check with an attorney, but for a contract to be valid there must be some type of consideration paid. Your signature at the bottom of the document indicates that the terms and conditions of the lease have been met (i.e. deposits, etc.), so, in theory, a lease should never be signed until that consideration has been paid.
If the consideration is not paid then I would say that the lease is not binding. However, you really need to find out what your statutes address in this situation. Ninety percent of Landlord/Tenant laws favor the landlord, so I am guessing that you can probably get out of the deal, but I would not risk getting sued over it. Check your statutes and if they are silent on this subject you can either check with an attorney or take a chance.
If your ad said Not Smoking...did you ask the tenant if they smoked? if you put No Smoking in the ad, but not in the lease, then you are going to have an inside smoker if they choose.
Next time, turn away all smokers if you want non smoking. Even if they say they smoke outside. And put strong wording in the lease about non smoking.
What's the chance that this guy doesn't have all money on move in date? He probably figures you'll let him pay the security deposit over the next few months. You already allowed him flexibility with your rules. Next time allow the lease to go unsigned until all money is received. If they want the lease that bad, then the come up with the money. Else they risk someone else taking it. Dont allow him to move in unless 100 percent of the money is in your hands. If he doesnt have all the money on move in date, then the lease is void. Dont give him more time.
If I was you, I'd send the tenant a written notice that the contract is invalid, as he did not pay what was due upon signing, then go with the tenant you prefer.
Worst case scenario, he sues and tries to enforce contract. By then, the new tenant is in. And the judge will see that the contract said he'd pay upon signing and didn't.
I think you're okay. I say be assertive, tell him no-go, and move on. I doubt he'll sue, and if he does, as I said, you should win.
If I was you, I'd send the tenant a written notice that the contract is invalid, as he did not pay what was due upon signing, then go with the tenant you prefer.
Worst case scenario, he sues and tries to enforce contract. By then, the new tenant is in. And the judge will see that the contract said he'd pay upon signing and didn't.
I think you're okay. I say be assertive, tell him no-go, and move on. I doubt he'll sue, and if he does, as I said, you should win.
I think it's poor advice. First, you're making negative assumptions about the tenant based on the fact that he wasn't able to come up with the security deposit on signing. I agree in principle that signing a lease without the money upfront is generally not a good idea but the lease was signed in good faith and the OP did agree to the security deposit being paid along with the first month's rent upon move-in.
You can assume that the man won't sue and you can assume that a judge would side with the OP but an oral agreement was made and a judge may not be so hasty as not to ask why the lease was signed if an oral agreement had not been made about the deposit.
Both legally and morally the OP should abide by his agreement and if the tenant for any reason fails to make good on the terms of the oral agreement then the OP can legally consider the lease void.
I think it's poor advice. First, you're making negative assumptions about the tenant based on the fact that he wasn't able to come up with the security deposit on signing. I agree in principle that signing a lease without the money upfront is generally not a good idea but the lease was signed in good faith and the OP did agree to the security deposit being paid along with the first month's rent upon move-in.
You can assume that the man won't sue and you can assume that a judge would side with the OP but an oral agreement was made and a judge may not be so hasty as not to ask why the lease was signed if an oral agreement had not been made about the deposit.
Both legally and morally the OP should abide by his agreement and if the tenant for any reason fails to make good on the terms of the oral agreement then the OP can legally consider the lease void.
Oral agreements are only valid for month-to-month agreements. So, you're wrong.
Would the court expect the LL to wait to see if the tenant will show up with a money order, or a bad check upon move-in day, when the contract says money has to be paid upon signing?
I doubt it.
It's completely reasonable for the LL to move on to another tenant, and consider the one agreement void, because they didn't pay as agreed.
I think that's a better gamble, than going with a tenant who may show up with a bad check on move-in day, and pass up a good tenant.
The court's all about what's reasonable. And I think it's reasonable to move on, when one side of a contract doesn't live up to the terms of the contract.
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