File notes: This file is in simple HTML format without any PHP or links. This file is shared to BP without any warranty or guarantee. Check with your legal representative if you have questions. Use at your own risk. My company uses a "binder" to facilitate leasing property. Similar to what people call a "deposit", in a binder we collect "consideration" from an applicant to "hold" a property call. Unlike a conventional "deposit", there is no lease associated with a binder. At the lease signing, the applicant brings the deposit and we sign the lease (tenant gets possession at lease signing). See also http://www.biggerpockets.com/forums/52/topics/80482-critique-my-holding-deposit-agreement Additional Documentation for the binder is in the General Rental Binder Policy document. We also have a checklist for our lease signing process to make sure we cover all necessary steps.