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Can I get my deposit back if I didn't sign a lease yet?

Reblogger Wallace S. Gibson, CPM
Property Manager with Gibson Management Group, Ltd.

I continue to market a property until the lease is signed and the check is deposited.  One reasons for getting "move-in monies" by bank or certified funds is to PREVENT the tenant prospect from backing out of the deal.  I ALWAYS have a return the signature page by 48 hours from delivery of the lease packet.

Original content by Tracy Lee Parker 0534986

Can I get my deposit back if I didn't sign a lease yet?

Generally, if you give a security deposit for a home and you don't ever take possession of or sign a lease for, then you are entitled to the entire deposit back.

Usually, until you have actually signed a lease, you do not have a lease. Virtually all residential leases are required to be in writing.  Was there supposed to be a later signing, or did you understand there would be no other paperwork? It is possible you have a lease without signing, but it may be hard to prove.

As a  property managers, we would keep showing the home until we had the signed lease. We have had this happen where a tenant was approved, gave a deposit but never came in and signed the lease!! We continue showing the property, the first approved tenant who signs a lease and puts up the security deposit is the one who moves in.

 

 

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Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

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Comments(2)

Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Wallace.  Happy Thanksgiving to you and your family.

Nov 21, 2012 07:30 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Wallace, may you enjoy a day of great food and relaxation. Tomorrow is another day! 

Nov 21, 2012 09:13 PM