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I'm a landlord who just signed the Letter of Intent with a tenant about a week ago. I was given 1 month deposit. Today, the tenant want to back out due to he wants to reduce the rental price (15% from the agreed price).

I was asked to refund the deposit. May I know if this is the practice that landlord must refund the deposit if the tenant back out?

Appreciate your advice.
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2 Answers

Aaron Chong
Replied
Hi Tina, you could always refer back to your agent.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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Ivan Ng
Replied
Hi,

It depends on the exact wording inked on the Letter of Intent, and whether any Tenancy Agreement has been signed. If there was no clause to prevent this scenario from occurring, I'm afraid the tenant may have a claim in terms of getting his or her deposit back. It is best to check with your leasing agent, he or she should have included some clause to prevent this scenario. Thanks and hope it clarifies, is there anything I can assist further?

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More
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