Zillow Advice: Renter Rights - What happens if you sign a lease but can't come up with the Security deposit? http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ Zillow Advice | Zillow Real Estate OOO!Good question.A judgement ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ OOO!<br/><br/>Good question.<br/><br/>A judgement can be held against you depending upon the contract signed.<br/><br/>If you work something out with the landlord you may be able to get out without much loss, but Most land lords will charge you at least for the amount of time they had to hold it off market for you after signing lease.<br/><br/>Another way you can work it out is to have a payment assistance plan, in which you pay a portion of the deposit now, and pay the remaining out.<br/><br/>In renting, a lot is based on mutual agreement between the land lord and yourself. Pull out your negotiator hat and get to work!<br/> Mon, 04 Jul 2011 00:51:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T00:51:00Z First, ask the landlord politely ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ First, ask the landlord politely for your money back and cancel the lease.&nbsp; If that doesn't work, I would contact your attorney. Thu, 16 Aug 2012 17:07:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2012-08-16T17:07:00Z Thanks so much! I will try ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ Thanks so much! I will try that. I hope to have this resolved soon. I did call, nothing is resolved yet. But thanks for everyones input and advice! Tue, 05 Jul 2011 00:18:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-05T00:18:00Z You need to tell the LL in ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ You need to tell the LL in writing that you do not have the security deposit and that you cannot begin the lease as expected. Also mention in the letter that you do not have a copy of the lease and that you would like to resolve this right away. The sooner you do that the better.<br/><br/>I do not know what your lease says, but you at least need to notice the LL that you do not have the required deposit as expected. It may also be helpful to ask an attorney about the law in your area. You can try the avvo.com website <a rel="nofollow" href="http://www.avvo.com">here</a> and ask an attorney one question for free. It is also a good way to find a local attorney for a consult if a helpful one replies to your question. Mon, 04 Jul 2011 19:20:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T19:20:00Z Well we signed because we ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ Well we signed because we were going through a loan to get some of the money for the deposit and rent. Which&nbsp; both of them together adds up to&nbsp;&nbsp;a good amount ( alotta cash!) . We then got notice that it wasnt approved (For the time frame we needed it by)&nbsp;when we were verbally told that there would be no problem and we would have our money by this week. Which is now, not happening.&nbsp; Can still get the money, but def. not by the move in date. Instead of asking LL to wait longer, we will just give up the property, and look else where. I guess another question I would have is, Can he legally have two leases on one property anyways? He still has a lease that has not been terminated. Should this make it easier? I have done some research, is it true that a LL cannot have 2 security deposits and 2 rent payments for one home? Mon, 04 Jul 2011 19:14:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T19:14:00Z Most standardized contract ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ Most standardized contract forms would have a default clause in them. And most contracts contain the solutions to any number of problems that might come up. Most likely the answer to your dilemma is in the form itself. Try to get a copy of what you signed!!! Mon, 04 Jul 2011 05:29:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T05:29:00Z you must be working with ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ you must be working with a very inexperienced landlord. With me, or anyone who knows anything about this business, you won't sign a lease when we meet, but rather an application. You will also pay for a credit check.&nbsp;<br/><br/>THEN after checking your credit, if I approved you, you would make an earnest deposit as part of the signed lease. If you backed out you would lose your earnest deposit.&nbsp;<br/><br/>Out of&nbsp;curiosity, why did you sign a lease if you didn't have the money to go through with it?&nbsp; Mon, 04 Jul 2011 05:11:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T05:11:00Z THanks so much for your advice! ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ THanks so much for your advice! Rex, the thing is, is we never got a copy of our lease. Another mistake. I am going to try to contact the LL again tomorrow and see if we would be able to work something out. Thanks again! Mon, 04 Jul 2011 04:23:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T04:23:00Z 7/4/11You might want to locate ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 7/4/11<br/><br/>You might want to locate an attorney who specializes in RE / rental matters and ask if you can have a 'free' counseltation with him.&nbsp; Often an attorney will give you a first visit counseltation of an 1/2 hour to an hour for free (hopeing to attrack new clients).&nbsp; This might be a wise move for two reasons ..... 1). He can tell you what your legal grounds are under the current situation and 2). If you end up requiring the services of an attorney due to a broken lease agreement ...... you have one in the 'que' ready to go.&nbsp; In the long run, while it may cost you a few $$$$'s to have an attorney available to handle this matter ....... you could be save lots of $$$$$'s by having his legal assistance available.<br/><br/>In closing - be sure to&nbsp;bring all your legal documents .... especially your copy of the lease agreement with you on your first visit.<br/><br/>Best success in your efforts .................... Mon, 04 Jul 2011 03:15:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T03:15:00Z We signed the lease 3 days ... http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ We signed the lease 3 days ago. So he didnt have to hold it long. Also, when we signed the lease he still had an active lease with the previous tenant, who broke their lease. So he still has an active lease, other than the one we signed. He doesnt have any of our money at all, so there wouldnt really be anything for him to keep. ???? Does that make a difference? Mon, 04 Jul 2011 01:51:00 GMT http://www.zillow.com/advice-thread/What-happens-if-you-sign-a-lease-but-can%27t-come-up-with-the-Security-deposit/406046/ 2011-07-04T01:51:00Z