Full question:
I'm a landlord and I had a tenant that signed a one year lease for a home and gave me a security deposit on November 14. I met with the new tenant today to turn over the keys and he backed out of the lease agreement. He said his current landlord is allowing him to purchase the home. Am I able to keep the security deposit? Can I go after him for lost rent?
- Category: Landlord Tenant
- Subcategory: Security Deposit
- Date:
- State: Ohio
Answer:
As a landlord, you may be able to keep the security deposit if the tenant breaches the lease agreement. According to Ohio law, you can recover damages for a breach of contract (Ohio Rev. Code § 5321.12). Since the tenant backed out, you can apply the security deposit to cover any damages or lost rent resulting from their noncompliance with the lease.
Additionally, if the security deposit exceeds fifty dollars or one month's rent, it must bear interest if the tenant remains in possession for six months or more (Ohio Rev. Code § 5321.16). When the rental agreement is terminated, you must provide the tenant with a written notice itemizing any deductions from the security deposit within thirty days. If the tenant does not provide a forwarding address, they may lose the right to claim damages or attorney fees.
Therefore, you should document any damages or lost rent and notify the tenant accordingly.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.