Landlord I signed commercial lease agreement not requiring security deposit landlord now says he wants a deposit

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Landlord I signed commercial lease agreement not requiring security deposit landlord now says he wants a deposit

After signing a commercial rental lease, the landlord said he now needs a 1,000
deposit, although there is no mention of a security deposit in the lease. We are to
take possession of the building within a week. He cannot require a deposit now
that we’ve already signed the lease, correct?

Asked on January 24, 2017 under Real Estate Law, Illinois

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You are correct: a lease is a contract, and once a contract has been executed, neither party can unilaterally change the agreement or add new terms or requirements to it without the consent or agreement of the other side. If the lease does not include a security deposit, he cannot require one now (though when the current lease expires, he can add a security deposit to any renewal).


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