Legal Question in Landlord & Tenant Law in California

Rescission of Holding Deposit Agreement

I recently signed a holding deposit agreement on an apartment as well as gave a $1000 check to hold the apartment until May 1st. Within 20 hours of signing the contract, I decided I did not want the apartment. I contacted the apartment manager and offered a sum to get out of the contract. He didn't accept.

When I viewed the apartment, their were many others interested. The place was a good deal as it had parking, allowed pets, and was in the best area of San Francisco.

The Manager said they wouldn't let me out of the contract until they found someone else to take it. And even so, they would only give me part of the deposit back. Now they are advertising the apartment at a higher price than I had it.

After hearing this, I cancelled the check and sent a Note of Rescission. Now, they are threatening to take me to Small Claims Court. What rights do I have? Is there a 3 day period or a certain amount of time to rescind a contract in these types of situations?

Any advice would be appreciated.

Thank you.


Asked on 4/01/03, 12:15 pm

1 Answer from Attorneys
Martin Snitow

Re: Rescission of Holding Deposit Agreement

A lot depends on what the holding agreement said, but I can't imagine the landlord could keep your deposit and advertise the apartment at a higher rent. They could possibly hold you liable for advertising and other rental costs and for lost rent, but they would have to seek a tenant on the same terms.

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Answered on 4/01/03, 2:50 pm


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