Asked by L
My exclusive agent found me a tenant for my rental condo with one month deposit paid. But before the start date of the lease, the tenant breached the contract and decided not to activate the contract. The one month deposit is thus forfeited. My exclusive agent will look for new tenant for me. But do I have to share the forfeited deposit with her as commission for the unsuccessful deal? I think commission and deposit are 2 different things? Deposit is to compensate the owner for the time lost to reserve the unit while commission is paid to agent only upon completion of deal. Am I right?
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