Do we need to pay the deposit back
Our renters gave notice the 30th of October to vacate the property the 31st of December, with agreement that they stay out their deposit in December and do not need to pay rent. They let us know Monday the 27th of November that they will be moving out the 30th of November and not the 31st of December as per notice letter to us. In this case do we now still need to pay back their Deposit, seeing as we did not advertise for new renters for December, and they were going to be staying out their deposit for end December. Please advise if we need to pay their deposit back?
Hello. If you have written proof of the agreement then it is binding. Write to them referring them to the agreement and why their change of plans is going to cause you loss for the month of December. Tell them that as a result the deposit will not be paid to them as it will cover the loss ( as per agreement).