Deposit down to hold apt, now future tenant is getting demanding

Kansas City , MO · Member since 2016 · 14 posts · 2 votes

We have recently had a potential tenant put down a deposit to hold a unit. After receiving the deposit, the future tenant has become demanding and unwilling to work with us on scheduling a lease signing. We think the tenant is probably not the best fit for us and would like to continue to look. Her credit score did not quite meet our requirements so I can use that as reasoning. Obviously we will return the deposit but does anyone have any suggestions on the best way to approach this?

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John UnderwoodPro Member

Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

@Anna Maher If she is unwilling to work with you on scheduling a lease signing draw a line in the sand. Tell her to show up at certain date/time and that if she doesn't you will return her deposit and find another tenant.

Show her you are the boss, you make the rules or she should find another property.

She will fall in line or part ways, either way you win.

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
8y
@Anna Maher If she is unwilling to work with you on scheduling a lease signing draw a line in the sand. Tell her to show up at certain date/time and that if she doesn't you will return her deposit and find another tenant.
Show her you are the boss, you make the rules or she should find another property.
She will fall in line or part ways, either way you win.
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Matt K.
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
8y
And if you return the deposit certified check sent via cert mail with signature confirmation...
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Katie Stewart
Specialist · Fort Collins, CO · Member since 2018 · 557 posts · 191 votes
8y
If she doesn't fit within your credit requirements, I would say pass on this tenant. Just let her know that you have found someone more qualified to rent to and move on! She sounds like she will be a problem renter if she is already causing you trouble..
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JD MartinBusiness Member
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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
Originally posted by @Anna Maher:

We have recently had a potential tenant put down a deposit to hold a unit. After receiving the deposit, the future tenant has become demanding and unwilling to work with us on scheduling a lease signing. We think the tenant is probably not the best fit for us and would like to continue to look. Her credit score did not quite meet our requirements so I can use that as reasoning. Obviously we will return the deposit but does anyone have any suggestions on the best way to approach this?
Lesson learned: do not take a deposit to hold a unit. You get a signed lease with deposit, first (and last, preferably) month's rent. If they didn't meet your requirements, why did you take a deposit to hold the unit anyway? There's no point in having requirements if they don't mean anything.
I would return the deposit, as noted (require a signature) and go forward. They may be vindictive and try to sue you, but that's just part of it. Most likely scenario is they'll cuss you out and go away.
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Nicole A.Pro Member
Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
8y
When good applicants want to hold a unit because they can't move in immediately, I let them know that they are first in line if the unit is still vacant once they are able to move in. However, I will continue to show the property to others and if another good applicant comes along and can move sooner, then I will have to give it to that person. They have always been understanding of this agreement, and many times, found a way to move up their move date.
Also, never make agreements with someone who you haven't completed an application on already. If you had already done the check, you'd know that they didn't qualify (due to their credit) and wouldn't offer to hold the place anyway. Simply, stand firm and professional, and give them back their deposit. If they continuously contact you, you are not required to answer them.
Be sure you send back the deposit in a way that you can have proof of it happening such as certified mail/signature required/whatever and a copy of the check you sent. If you send via regular mail, they will claim they didn't get it.
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Anna Maher
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Kansas City , MO · Member since 2016 · 14 posts · 2 votes
8y
We have had a lot of people apply but no one has met all of our minimum qualifications. The main qualifications are that they have no evictions in the last 10 years, credit over 600 and verifiable income 3x the rent. This one was the closest and initially seemed like a reliable option. The unit has been vacant for 2.5 months now. The rent is in line with the market and the unit has just been redone. Its a b-/c+ neighborhood. We just can't seem to find anyone who meets all the qualifications and seems like they would be a responsible tenant.
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JD MartinBusiness Member
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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
Originally posted by @Anna Maher:

We have had a lot of people apply but no one has met all of our minimum qualifications. The main qualifications are that they have no evictions in the last 10 years, credit over 600 and verifiable income 3x the rent. This one was the closest and initially seemed like a reliable option. The unit has been vacant for 2.5 months now. The rent is in line with the market and the unit has just been redone. Its a b-/c+ neighborhood. We just can't seem to find anyone who meets all the qualifications and seems like they would be a responsible tenant.
Unlikely that all of your assumptions are correct. A unit standing vacant for 2.5 months in today's market in most places generally means it is overpriced for the location/amenities or it is in an unsafe area. Good people are always looking for something to rent in all markets. Is it listed on Zillow, Realtor, Hotpads, Trulia or similar? If so, post up the link - you'll get some feedback from other people on how they think it compares to other options.
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