What to do if we put a $100 deposit on an apartment but have not signed a lease and no longer want the apartment?

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What to do if we put a $100 deposit on an apartment but have not signed a lease and no longer want the apartment?

The company said it’s not refundable after 72 hours. Can they keep the money legally if we don’t sign a lease?

Asked on December 12, 2012 under Real Estate Law, Kansas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Yes, the landlord can keep the money. The entire point of a deposit like this is to guaranty performance (e.g. going ahead with the rental), and if the tenant fails to rent, the landlord may keep the deposit as its "damages."


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