Ontario Lease Deposit

[BREAKRZ]

Hey everyone just looking for some advice....

I accepted a rental application from a new tenant and the deposit for last months rent was sent via etransfer (I only require first months a week before occupancy). Now I am waiting for applicant to sign and return via pdf email the lease agreement.

My question is what if they change their mind and ask for the deposit back, what are my obligations?

I am in Toronto, the agreed possession date is July 1st. This could delay any future closing dates with new applicants if they were to back out.




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[wwds]

this is just my opinion but I would charge them a reasonable admin charge and return the reminder. As for obligations, unless it is in writing that they forfeit their deposit if they back out, return it. But that’s just me. Otherwise, its a gamble for you if it goes to court, as to what the judge would decide.