Deposit not paid

[kellis78]

Hi all, just got an applicant who hasn't paid their initial deposit to confirm tenancy when they said they would. I have other applicants so would prefer to offer it to someone else incase this indicates future rent payment issues. We haven't signed the tenancy agreement yet but I have officially offered them the property (in writing by email). Unfortunately I didn't stipulate in that email when the deposit was to be paid, although I did say I wouldn't take it off the market until it was paid. Can I withdraw the tenancy offer?

[Keys]

No.

And, to be more of a pain. You have to give them the keys when the tenancy date starts and they still don't pay the money.

Or................................

You can take the risk and terminate the relationship.

[Perry]

Keys: know of any TT cases
on this sort of difficulty?

[Keys]

Nope, however, Scotney Williams stresses that it is one of the problems with no deposit or conditional clause in tenancy agreements.

[essence]

Hi all, just got an applicant who hasn't paid their initial deposit to confirm tenancy when they said they would. I have other applicants so would prefer to offer it to someone else incase this indicates future rent payment issues. We haven't signed the tenancy agreement yet but I have officially offered them the property (in writing by email). Unfortunately I didn't stipulate in that email when the deposit was to be paid, although I did say I wouldn't take it off the market until it was paid. Can I withdraw the tenancy offer?

Hey Keys

Refer to my bold highlighting. Hasn't the potential tenant defaulted on the terms of acceptance of the tenancy by not paying the deposit as agreed?

Isn't this terms to cancel the tenancy?

[Keys]

Indeed it does. What was the wording in the email. A simple offer I suggest. Not a conditional offer.

Well spotted.

[essence]

Kellis78

Has the potential tenant been in contact with you since accepting your offer of the tenancy? If not, I would suspect that they have changed their minds, but are too gutless to let you know.

Send them an email stating "As we mutually agreed, you would pay xxxxx deposit on xxxx day. You have not done this. My offer of this rental to you is withdrawn."

After I've advertised a rental and got responses, I say to two or three different parties, you meet my criteria but so do other parties. The first person who pays the deposit in full plus two weeks rent in advance, can have the tenancy. Advise them that you will not stop advertising the property until this has been done. Do not tell them "You've got the tenancy"!!!!!!!!!!!!

You'd be surprised at how quickly they come up with the money.

You ask - why two weeks in advance? Well, I've found in the past that by the time people move in, trying to get to the Bank to organise an A/P in the first week is pretty much a mission. Paying two weeks solves that problem.

Take the time to explain to them that you don't keep the Bond but it is lodged with Bond Department at Housing New Zealand. The two weeks in advance covers the first two weeks of the tenancy. Make this very clear to the tenant. Some tenants hold the mistaken belief that this means that when they give Notice to Vacate, the last two weeks of the rental is covered.

Being a Landlord is a business, treat it as such.

[mattinvestor]

It seems like your tenants have changed their minds. Send them a letter and let them know that your offer to rent your property has been withdrawn since they have failed to pay a deposit. Then you should be fine. You definitely do not have to give them a key and let them move in, since they have not paid the deposit to you.