Rentwise! Chapter One -- Deposits

DEPOSIT/FEE TO "HOLD" AN APARTMENT

Occasionally a tenant may want to hold a unit for a few days while comparison shopping. You can ask the landlord to stop advertising and showing the place, and pay earnest money to guarantee that your option to rent remains open while you decide. If and when you sign the lease, this deposit is applied to the first month's rent. If however, you decide to rent elsewhere, this deposit becomes a fee, and is not returned.

Tenant tip:
Any deposit money given to a landlord--no matter what it may be called--will belong to the landlord if the tenant decides not to rent.

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