[DrockNJ]

Ok so i need some advice.. I have condo in jersey that i just started to rent out. I had some possible tenants come and look at the place. One couple loved it and asked me on the spot if they could put a $400 cash deposit down and have me "hold it" for them.
I agreed under the conditions that their background check went smoothly. We signed a little contract that i wrote up that basically said that if the background check worked out that i was going to rent the property to them for 12 months starting July 1st and that they put down a $400 cash deposit and what not.
So after i tell them that everything is o.k. to go i don't hear back from them for about a week. Then they get in touch with me and tell me that they need to move the move in date back to August 1. I say ok as long as i have some kind of commitment from them which would be the remainder of the security deposit and signing the official lease.
So i still haven't hear back from them . My main question is, if they say that they don't want to rent the property any more do i still have to give them the $400 back??

Sorry if it's a little confusing...