A 24 month lease is okay, (though unusual in a residential lease context) but it must be in writing and acknowledged before it will be valid. Otherwise, all that is created is a month to month tenancy. Aside from this, I'm not sure there is enough information here. Did you sign the lease but your landlord has not yet. If so, their acceptance of the deposit and cashing it could be considered acceptance on their part as well, and refusing to honor the agreement could be a breach. If no one has signed yet, and your deposit is merely to hold the unit, since you are ready, willing and able to perform, you should have no problem getting your money back in full. You should not have to accept terms you do not agree to. It sounds like there may be more going on here as well. There are significant vacancy rates all over right now. Is there something special about this unit that would cause people to get into a bidding war just to live there. With the high vacancy rates right now, landlords are often competing with other landlords for low rents or move-in specials just to fill up vacancies. You should consult with an attorney about this due to the circumstances.
Answered on Feb 26th, 2013 at 6:41 PM