I gave security deposit to a new apt and they cashed it RIGHT AWAY, i changed my mind.. i want out..now what?
Answers:
They will issue you a check; cash it right away.
Read the contract you signed. The answer is right there.
It depends on their process. My apartment said I had 3 days after I gave them my deposit, and if I decided I wanted out, I had to do it w/in that time period or else I was SOL. You need to check with them and find out what their policy is.
On the properties I've worked for over the years, the security deposit is not refunded if an applicant changes his/her mind. Because.you stopped the landlord from marketing the apartment. A deposit is a type of committment, and landlords reserve the apartment for you when you make a deposit. Therefore, you have taken the apartment off the market. The landlord may have lost an opportunity to actually rent the apartment to someone because you implied, by making your deposit, that you were going to follow through to the next level.
However, if a landlord takes your deposit, and does not have an apartment available for you at the time promised, then your deposit is refunded. Hope this helps!
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