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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 27198
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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My son is looking to a rent an apartment first time.

Customer Question

My son is looking to a rent an apartment for the first time. He has a friend that he will be rooming with. They found a place to rent. My son has his security deposit ready but the friend will not have his money available for another week. My son spoke to the Landlord about giving his deposit to secure the place. The Landlord agrees for his friend's security deposit to be received in another week. Is it advisable for my son to sign the lease now or it should not matter because both future tenants and the landlord has to sign the lease now? Of course my son is anxious to give the deposit because according to the Landlord another party is also interested in the same premises?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 2 years ago.
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.
Good afternoon. I certainly understand the situation and your concern. If your son is counting on his friend to move in and sign the lease as well, to share in the rental cost, then he should strongly consider waiting and doing it at the same time. I say this because if he signs it and then the friend backs out, the landlord may try and hold him to the lease and he would be responsible to pay. Now, if there is language in the lease or they can agree in writing, that the lease will only take effect and be binding if BOTH parties sign and if his friend does not sign or pay his share of the deposit, then your sons deposit would be fully refunded, he could have protection. You son can offer in good faith to give the deposit to hold the rental, so someone else does not get it. However, he needs to make sure that he will get it back, if the friend backs out as well. The goal is to make sure he is not held solely responsible or loses and money put up, if the friend backs out .
Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service before exiting the site, so I can receive credit for my help. I hope you found it to be Excellent! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.
Expert:  RealEstateAnswer replied 2 years ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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