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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Would you rent back to foreclosed owner? Posted by Albert on September 27, 2001 at 7:26 AM Ward, Where do you stand on renting a property bought in foreclosure (or pre-foreclosure) to the former owners rather than evicting them? I figure if one can collect enough rent/security deposit in advance it can make it worth the while. If the new tenant does not pay on time, one can always evict them. Also, are there any restrictions in CA on how much security deposit a landlord can collect? In Virginia, it seems the landlord is limited to two months. Here's an excerpt from the VA code: "A landlord may not demand or receive a security deposit, however denominated, in an amount or value in excess of two months' periodic rent. " And this how security deposit is defined: "Security deposit" means any deposit of money or property, whether termed security deposit or "prepaid rent," however denominated, which is furnished by a tenant to a landlord to secure the performance of any part of a written or oral rental agreement, as a security for damages to the leased premises, or as a pet deposit. Thanks, ++Albert Follow Ups: Re: No reason to rent to ex-owners. Ward-CA- 7:56 AM, 09/27/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Where do you stand on renting a property bought in foreclosure (or pre-foreclosure) to the former owners rather than evicting them? I figure if one can collect enough rent/security deposit in advance it can make it worth the while. If the new tenant does not pay on time, one can always evict them. : Also, are there any restrictions in CA on how much security deposit a landlord can collect? In Virginia, it seems the landlord is limited to two months. Here's an excerpt from the VA code: : "A landlord may not demand or receive a security deposit, however denominated, in an amount or value in excess of two months' periodic rent. " : And this how security deposit is defined: : "Security deposit" means any deposit of money or property, whether termed security deposit or "prepaid rent," however denominated, which is furnished by a tenant to a landlord to secure the performance of any part of a written or oral rental agreement, as a security for damages to the leased premises, or as a pet deposit. : : Thanks, : ++Albert Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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