Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

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Ll53l2
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Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by Ll53l2 » Wed Dec 18, 2019 9:11 pm

Hi there,

I was rushed to sign a rental agreement however I still haven't moved or paid deposit yet and I want to back out as I won't be able to afford furnishing it eitherway,

Seems like the agents are more interested in their commission, I already told my situation that If I move in there I would not even have a bed to sleep in till I get my salary at the end of the month due to lack of funds.

What would happen if I were unable to pay the security deposity by the deadline?

Thank you



Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

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betelgeuse
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by betelgeuse » Wed Dec 18, 2019 10:45 pm

Ll53l2 wrote:
Wed Dec 18, 2019 9:11 pm
Hi there,

I was rushed to sign a rental agreement however I still haven't moved or paid deposit yet and I want to back out as I won't be able to afford furnishing it eitherway,

Seems like the agents are more interested in their commission, I already told my situation that If I move in there I would not even have a bed to sleep in till I get my salary at the end of the month due to lack of funds.

What would happen if I were unable to pay the security deposity by the deadline?
You are liable to compensate the landlord for the lost rent and costs associated with finding someone else.

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network_engineer
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by network_engineer » Fri Dec 20, 2019 12:40 pm

betelgeuse wrote:
Wed Dec 18, 2019 10:45 pm
You are liable to compensate the landlord for the lost rent and costs associated with finding someone else.
As I recall, only to the extent of the notice period. I.e. if you had a two months notice, then those two months. I am not sure of this, but the tenant is not liable to help the landlord seek a new tenant. In practice, if you can find another tenant, that could be in lieu of the notice period.

FinlandGirl
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by FinlandGirl » Fri Dec 20, 2019 6:04 pm

network_engineer wrote:
Fri Dec 20, 2019 12:40 pm
betelgeuse wrote:
Wed Dec 18, 2019 10:45 pm
You are liable to compensate the landlord for the lost rent and costs associated with finding someone else.
As I recall, only to the extent of the notice period. I.e. if you had a two months notice, then those two months.
Usually the first time you can give notice is after 12 months.

FinlandGirl
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by FinlandGirl » Fri Dec 20, 2019 6:23 pm

Ll53l2 wrote:
Wed Dec 18, 2019 9:11 pm
I already told my situation that If I move in there I would not even have a bed to sleep in till I get my salary at the end of the month due to lack of funds.
It is not uncommon that people do not immediately have money for furniture like a bed in their newly rented apartment when moving from abroad.
One option is to ask your employer for a loan that will be paid back from your salary.
Ll53l2 wrote:
Wed Dec 18, 2019 9:11 pm
What would happen if I were unable to pay the security deposity by the deadline?
This:
betelgeuse wrote:
Wed Dec 18, 2019 10:45 pm
You are liable to compensate the landlord for the lost rent and costs associated with finding someone else.
Agent commission is around 1 monthly rent, not moving into the apartment would cost you 2-3 months of rent.

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network_engineer
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by network_engineer » Fri Dec 20, 2019 6:29 pm

FinlandGirl wrote:
Fri Dec 20, 2019 6:04 pm
Usually the first time you can give notice is after 12 months.
What is this based on please? Is there a piece of legislation or norm that I could refer to?
One option is to ask your employer for a loan that will be paid back from your salary.
Do also check for a rental guarantee with your employer, they/ their relocation services consultant should be able to help you out.
Agent commission is around 1 monthly rent, not moving into the apartment would cost you 2-3 months of rent.
Yeah, that could be it. Although, I am not sure if you are required to compensate the agent commission. Since these are losses they can easily deduct from taxes. If you do pay, ask for a clear receipt.
Last edited by network_engineer on Fri Dec 20, 2019 6:35 pm, edited 1 time in total.

betelgeuse
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by betelgeuse » Fri Dec 20, 2019 6:31 pm

FinlandGirl wrote:
Fri Dec 20, 2019 6:04 pm
network_engineer wrote:
Fri Dec 20, 2019 12:40 pm
betelgeuse wrote:
Wed Dec 18, 2019 10:45 pm
You are liable to compensate the landlord for the lost rent and costs associated with finding someone else.
As I recall, only to the extent of the notice period. I.e. if you had a two months notice, then those two months.
Usually the first time you can give notice is after 12 months.
This is illegal. You can always give one month notice. However, the rental contract can stipulate an extra fee for termination in the beginning of the lease.

FinlandGirl
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by FinlandGirl » Fri Dec 20, 2019 6:48 pm

betelgeuse wrote:
Fri Dec 20, 2019 6:31 pm
FinlandGirl wrote:
Fri Dec 20, 2019 6:04 pm
network_engineer wrote:
Fri Dec 20, 2019 12:40 pm


As I recall, only to the extent of the notice period. I.e. if you had a two months notice, then those two months.
Usually the first time you can give notice is after 12 months.
This is illegal. You can always give one month notice.
Yes, you can. But the notice period will not start immediately.
The law says that the notice period cannot be longer. The law says that the start of the notice period is at the end of the month unless otherwise agreed.

FinlandGirl
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by FinlandGirl » Fri Dec 20, 2019 6:57 pm

network_engineer wrote:
Fri Dec 20, 2019 6:29 pm
Since these are losses they can easily deduct from taxes.
You can never deduct a loss from your tax payment.
You can only deduct a loss from your profits.

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network_engineer
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by network_engineer » Fri Dec 20, 2019 8:09 pm

FinlandGirl wrote:
Fri Dec 20, 2019 6:57 pm
You can never deduct a loss from your tax payment.
You can only deduct a loss from your profits.
Hiring a leasing agency etc. is a business cost and can be deducted. Google Vähennyskelpoisia hankintamenot.

When you state things, please give a referral to the basis. Even a google reference would do.

FinlandGirl
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by FinlandGirl » Fri Dec 20, 2019 10:05 pm

network_engineer wrote:
Fri Dec 20, 2019 8:09 pm
FinlandGirl wrote:
Fri Dec 20, 2019 6:57 pm
You can never deduct a loss from your tax payment.
You can only deduct a loss from your profits.
Hiring a leasing agency etc. is a business cost and can be deducted.
Deducted from the profits, not from the taxes.

Let me try to explain with a simple example how taxation works:
Assume a tax rate of 30%.
With a profit of 10.000 Euro you are paying 3.000 Euro taxes.
Assume you are having a loss/expense of 1.000 Euro.
You were claiming the loss/expense could be deducted from the taxes, that would reduce your taxes to 2.000 Euro.
In reality the 1.000 Euro loss/expense reduces your profit to 9.000 Euro, reducing your taxes to 2.700 Euro and your after tax profit to 6.300 Euro.
With a loss/expense of 1.000 Euro you end up with 700 Euro less after taxes - this is where your "losses they can easily deduct from taxes" is wrong.

inkku
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by inkku » Sat Dec 21, 2019 9:21 am

OP

Non communication is the worst in my opinion.
You don't say where the place is, would it be easy to rent. some landlords are flexible if you discuss openly. However just before xmas they might not be very lenient. Would you be able to sublet it (so called jälleenvuokraus), somebody takes over it?

If your problem really is a lack of furniture, that sounds a bit of an excuse. Nowadays it is so easy to get the furniture free or with very few expenses, at least if you are in Helsinki Metropolitan area. you need to pay for the transport though.
Red Cross Kontti sells cheaply, as well as as Fida.
There are recycling groups on facebook, also there is kierrätyskeskus.

Note also that some landlords share inofficial information about noncompliance.

betelgeuse
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Re: Rental Agreement - Signed, deposit still unpaid, not really moving in, What are my options?

Post by betelgeuse » Sun Dec 22, 2019 3:40 pm

inkku wrote:
Sat Dec 21, 2019 9:21 am
Non communication is the worst in my opinion.
You don't say where the place is, would it be easy to rent. some landlords are flexible if you discuss openly. However just before xmas they might not be very lenient. Would you be able to sublet it (so called jälleenvuokraus), somebody takes over it?
Do note that jälleenvuokraus (= secondary leasing) requires permission from the landlord. Alivuokraus (sublease) can be max 50% of the apartment and does not require permission.
inkku wrote:
Sat Dec 21, 2019 9:21 am
Note also that some landlords share inofficial information about noncompliance.
Not GDPR compliant so only shady operators would do this.


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