Re: Non-refundable deposit - Landlord Forum thread

Re: Non-refundable deposit by Anonymous on February 22, 2012 @23:44

AS AN ATTORNEY I CAN TELL YOU IT IS OK TO USE THE WORD "NON-REFUNDABLE DEPOSIT".
SOME LANDLORDS THINK THEY ARE SMART BY CALLING IT A "HOLDING FEE" BUT I HAVE SEEN THAT THROWN OUT OF COURT BECAUISE JUDGES DO NOT LIKE TO SEE LANDLORDS INVENTING NEW TYPES OF "FEES".

SORRY ABOUT THE CAPS.

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Re: Non-refundable deposit by NY-LL on February 23, 2012 @00:05	[ Reply ]

Terminology can make a difference ... Depending on the language most commonly used in the rental state, there may be a substantial difference between a holding fee, a rental binder, and a non-refundable deposit. (Consumer laws in some states will not allow for a non-refundable deposits or holding fees beyond a set number of days.) It is safe to use the rental binder agreement, as it clearly specifies that the monies are non-refundable and that the monies are not a holding fee, rental fee, or security deposit. Whatever the wording or semantics used, if it is construed by a court to be a rental fee or security deposit it is subject to legal scrutiny and potential for refund.

Re: Non-refundable deposit by Eric (MN) on February 23, 2012 @17:21	[ Reply ]

There is no such thing as a non refundable deposit, by definition.