Will they cash the deposit on my new apartment?

Question

I just submitted a deposit of $750 on the apartment that I'm taking starting Sept. 1st of this year. Will they cash this? I have the money in the account, but I sure could use about 50 bucks of it until my next pay-day. Do you think they'll wait to deposit it?

Answer 1

They will most likely deposit it right away

Answer 2

Most definitely.  The check will be deposited and the monies will be put in an escrow account in all likelihood.  Most landlords will not spend it, though, if that is what you are afraid of . . they keep in in the bank.  If you leave the house undamaged, they will return it when you move out.  If you need the money in the short term, perhaps you can talk to the landlord and ask him/her to hold it for a week or so.

Answer 3

You've already given then the deposit check. The money is no longer there. Landlords do not keep checks laying around, they put them in the bank. Your deposit should be in a seperate savings account that makes interest, but you have no access to it until you move out. Borrow $50 from someone or do without.

Answer 4

Yes, they will, of course, deposit that check.  It is your good faith agreement that the apartment will be held for you.  Depending on how small or large the leasing department, it may not be cashed until earlier next week, but most would deposit it within 48 hours.

Answer 5

Well, They have a right to deposit it in their account  in next three business days. You dont want to show your Lanlord your financial difficulity in the given time, you firstly want to rent that space.

Good luck@

QL

Answer 6

YES - they will cash it as soon as they have a chance. If you did not really have the money, then you should have negotiated a smaller deposit.

Answer 7

They probably deposited it immediately.

Answer 8

Most likely already submitted to the bank so yes they will cash it and immediately