Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

Can I get my apartment deposit back if I decide not to live there?

Im in a tough situation. A friend and I were looking to move into a place for september, and we applied to 2 places. we had seen both but one we liked a lot more, the place we did not like as much accepted us right away, and asked us to give them a deposit of 600 dollars, we tried to delay this as much as possible until we knew back from the place we wanted more however they did not respond for a couple days. my friend and I thinking we were not going to get it decide whatever and give our deposit to our second choice which accepted us. About 5 hours later our #1 choice calls and says we got the place. NOW the question is if we go with our #1, do we lose our $600 we gave to the other place EVEN though we did not yet sign the lease?

6 Answers

  • Anonymous
    1 decade ago
    Favorite Answer

    I'll be honest, i didn't read all the stuff you wrote... But isn't the idea of a deposit that you can't get it back, hence giving the receiver some security that you will follow through with the transaction? There's no point taking deposits if you give them back whenever the buyer wants it. How does that benefit anyone? What i'm saying is, legaly i think they are entitled to it. However, you never know how nice/understanding they are, and they might give it back if you explain your scenario... Although they don't have to if they don't want to....

  • K
    Lv 4
    1 decade ago

    I think it would depend completely on the landlord. I thought I was going to be moving this past June, so in May I gave a deposit for a different apartment. My landlord begged me to stay (I was only going to leave because my roommate and I were not getting along) so I decided I would. I called the other landlord and they told me I SHOULDN'T get it back, but gave me the majority of it back (minus the cost to list the apartment in the paper for a few weeks). She didn't have to give me any back, so I was happy only taking a $75 loss.

  • 1 decade ago

    Yes you will lose your deposit. Because in paying that deposit and then not taking the apartment you caused the the owner to lose potential customers that could have taken the place and leased it. You have caused the landlord or owner to lose income. You have no right to the deposit regardless of your reason or situation.

    Source(s): 15 yrs property management
  • ?
    Lv 6
    1 decade ago

    It would be entirely up to the landlord to decide. If it was just a day or two and I had no offers, then I might give it back. But if I had taken the ad out of the paper or turned someone down, or if the first of the month had passed-- not so much.

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  • 1 decade ago

    The deposit should be returned.

    State law may allow you to cancel any monetary transaction above a set limit within a set number of business days excluding Sat.,Sun. and Holidays.

    In Missouri it is $25 and 3 business days in writing.

  • 1 decade ago

    You can certainly try. Especially with so little time in between and given that nothing was signed, those are both points in your favor. But expect them to resist giving it back. If they seem at all reluctant and the check hasn't been cashed yet, can you put a stop payment on it?

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