Posted by Chance on February 03, 2002 at 02:46:48:
In Va. you can only charge the “tenants” that back out of a SIGNED lease agreement the damages incurred. You can charge them lost rents for the period you need to re-rent the property as well as advertising and any cleaning if they moved in and then moved out and damaged or soiled the residence. Also any “reasonable” attorneys fees and court costs, gas to and from the court house, etc…(not time off from work if you have a regular job, tho) All of this should be listed in your lease. You may also collect 2 months rent for early breaking of the lease, but I doubt that the courts would allow this if they never lived in the house(took possession) or stayed for a very short(less than a months) time.
Posted by Tom B (GA) on February 02, 2002 at 12:55:26:
I heard the other week that when renting/leasing a house out, that you should collect the first months’ rent when the contract is signed. Then collect the security deposit when you hand over the keys. Assuming contract date and move in date are days or weeks later.
This way, since rent is not refundable but the security deposit is, you are covered if they bail at the last moment, allowing you another month to get someone else in there.
Any validity to this? Would like to here of those implementing this or something similiar.
True, the security deposit is refundable at the end of the lease if the tenants give you adequate notice and leave the property in the same condition that they found it. But, is the security deposit refundable if the tenants decide at the last minute not to rent the place? I do not believe so, but I could be wrong.