Legal Question in Real Estate Law in California
Security Deposit for Rented Property
My Landlord just informed me they will need my property back because they will need to move back into it due to ''the bad housing market''. Reading between the lines I believe they are in financial trouble and my be losing thier primary residence to forecloseuer. My question is; my security deposit is a little more than a months rent. The lease (which expired 10/07 and converted to a month to month) says that the security deposit cannot be used for the last months rent. I am concerned that they may not be able to refund the deposit as they may have used it to cover their own expenses. They have been in my property as recently as the last couple of weeks and know the property is in the same or better condition than when I rented it. I have found another residence and will be out by the end of next month. I want to use my deposit for my last month. What proplems can I expect if I do this. I fear this is the only way I can recover most of my money. My deposit is $3400 and my rent is $2900. I would rather lose $500 than the entire $3400. Please advise.
1 Answer from Attorneys
Re: Security Deposit for Rented Property
I don't see anything unethical about a lawyer advising a client to breach a contract. Breach of contract is not a crime, and usually isn't even immoral or unethical. A lawyer that doesn't represent you and hasn't enough information to weigh a business decision can't give you the odds on a business decision working out in your favor.
Having said all this, I believe there is sound judgment behind your reasoning.
One risk you didn't mention is a small to medium chance of a negative credit report, but if you already have a deal with a new landlord, maybe this is a "so what?"
No guarantees, but it sounds like a "businessman's risk."
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