I was looking at apartments and condos for rent and came across a really nicely renovated condo...it used to be a pretty run down apartment, but anyways they were renting and gave the option to buy. this offer came from the owners of the entire building. they were very pressing about us buying the unit rather than renting. but anyways, they asked for $20 for an application and also the full amount of rent as a deposit when we put in our application, which kinda surprised me, because all the places i ever was interested in they never charged for an application fee to rent, nor did they ask for the full months rent as deposit due with the application. u always put the deposit after u got ur credit check and application approved. anyways i thought it was weird, thought maybe its a scam and they wanted 20 dollars per application, when no other place in my city did this. CONTINUED...
2006-07-12 16:06:12 · 4 answers · asked by chocolate_cat 3 in Business & Finance ➔ Renting & Real Estate
would they have told us that we were not approved after WE handed over the $20 plus the full amount of rent as deposit? Is this kinda shady or scam-like? what do u think.
2006-07-12 16:06:48 · update #1
ask me if u need more details i will post it.
2006-07-12 16:07:18 · update #2
i also know we have ok credit to be approved cause ANOTHER apartment just called us after a credit check and asked if we were willing to sign a lease agreement for an apartment we were interested in. so they couldnt deny us based on credit either....
2006-07-12 16:08:53 · update #3
From what I understand of leases The $20.00 application fee is not unusual and is not refundable, the deposit on the other hand is also common and should be refundable, if you do not quailfy .
Good luck. And concider buying your own place if your going to pay a mortgage (rent is somebody elses mortgage)it might as well be yours.
2006-07-12 16:15:41 · answer #1 · answered by CYNTHIA R 2 · 1⤊ 0⤋
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2016-07-19 10:20:19 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Depending upon what state you live in, it is most likely lawful for a potential landlord to charge a small fee for a credit check. However, I am real estate attorney in California and have never heard of a landlord charging one month's rent up front for a deposit. I would be suspicious. However, if you are given a receipt for the month's rent that indicates that it is a deposit and they don't give approve your application, then the deposit by its definition will likely be refundable. If it is not refunded, you probably can make a claim in small claims court in your community and prevail.
Hope that is helpful
NotaryLawyerS.com
2006-07-12 16:11:38 · answer #3 · answered by ocean11law 2 · 0⤊ 0⤋
Think about it this way.... the $20 is hardly making them rich... and if it cost them $20... thats what it costs.
Second... people that get in their head that they may one day OWN the place they are renting, they are more likely to treat it that way. I think that is a great idea!
2006-07-12 16:12:09 · answer #4 · answered by robertonduty 5 · 0⤊ 0⤋