I rent out a studio in CT and have received a deposit ($500)from a future tenant. The rent is $750 a month and the tenant was to pay $500 to hold the rent for him and pay $1000 upon moving in which was security ($750) and first months rent($750).

Three weeks later he decided not to take the rent and wants his $500 returned.

I have less than 1 week now to find a new tenant. Nothing was in writing since he didn't move in yet but the check was for us to hold the place for him.

Can I keep all or part of the $500 since he backed out of the deal and now causes problems for me?

Hello Jean:

You can keep it all. That's what the deposit was for, after all. Next time, though, do it in WRITING.

excon