Comments on: What Step of the Renting Process Should the Security Deposit be Paid?

By: Anonymous

Anonymous — Sun, 10 Feb 2013 04:40:05 +0000

I think you were talking to a rookie. Good thing you didn?t push through.

By: Anonymous

Anonymous — Sun, 10 Feb 2013 01:20:04 +0000

Even if the realtor would say that they would get the security deposit back if you don?t get approved, it still sounds ridiculous to me that you would actually shell out the full amount of security deposit before signing anything. And then what if the realtor would just deny that you paid the security deposit because it?s not in writing? Then you?d be wasting good money on nothing.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 22:00:06 +0000

I have the feeling that your realtor would have used the wrong term. Maybe instead of saying holding fee or earnest money, he said security deposit. So it?s best if you would have clarified with him because if you really love the house then it would have been worth the effort to extend a little clarification.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 18:40:03 +0000

If the reason the realtor is asking you to pay a fee with the application is because they?re afraid of bounced checks, then they can just ask for cash instead. But in no way should they ask for the entire security deposit if they are not even sure that you would get approved. Remember, the application will determine if you are approved for renting or not. So it?s not yet an assurance that you?ll really get that property.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 15:20:02 +0000

Are you sure that’s a legitimate realtor? It sounds like they’re running scams.. Preying on people who don’t know about the basics of renting?

By: Anonymous

Anonymous — Sat, 09 Feb 2013 12:00:04 +0000

Yes, do not pay the SD. We run a brokerage firm and we only ask for the SD when the lease is ready. Usually, the lease agreement is ready 24hours from the time you got your application approved.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 08:40:03 +0000

Well at least the agent was honest about it. Only stupid people will procceed with the application still.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 05:40:03 +0000

Maybe there was the miscommunication there somewhere. Maybe the agent was referring to an application fee or a reservation fee. Because sometimes landlords or property management companies would require a fee for application. This fee would also be forfeited if you do not push through with the application.

By: Anonymous

Anonymous — Sat, 09 Feb 2013 02:20:06 +0000

You made the right position of not going through with the application. How can you trust a company that does not follow the normal renting procedure? If they?ve been in the business for long then they definitely would know that a security deposit should only be give once you agree to the lease agreement.

By: Anonymous

Anonymous — Fri, 08 Feb 2013 22:40:03 +0000

Thank you so much for this article. Most of the information presented are pretty basic and should be common knowledge for all tenants. However, you are right, you get so excited that we forget to read the lease agreement and only realize our mistakes once we get a hard time and getting your security deposit back.