Hi first time working with real state agent, he said in order to stop showing the house to any potential renter and "reserve it" for me until the place is ready to rent in a week, I have to deposit $400 and he will return it if I dont get the place at the end.. is this legit? Please help!
Get it in writing and ask what happens if you do get it and move in-is it applied to your first month's rent or your deposit. It is not uncommon to ask for a non-refundable deposit after the background checks are done and when you sign the lease. Once a tenant moves in, you apply it to their deposit. If they haven't done the background checks or reference checks, it seems a bit odd.
Will do. Thank you kindly! @Theresa Harris
Mine are on the market until full deposit is paid and that is approximately 1 month's rent and the lease is signed.
Yes, it's completely legit. Money is the only thing to prevent you from holding it off the market and then disappearing.
I require a full month of rent within 24 hours to reserve a rental and I will only hold it for 7 - 10 days before I expect you to start paying rent, utilities, etc. Take it or leave it. There are a dozen other renters right behind you.
Yes, just make sure the check is going to the brokerage and not the agent. This is how they hold the spot. Without it, it's just paper.