I posted yesterday about a rental property I saw and I am grateful for the responses. I have another question about the application/lease agreement. My husband said our application was approved but I’m not sure if that’s really true because the realtor speaks English as a second language. I don’t think it was actually approved because he gave us a response the same day we applied. Anyway I was looking at the agreeement/application and it says the following: “[Realty Company] operates as a real estate brokerage company representing both lessor and lessee.[Second Realty Company] performs the role of showing you apartments. A service fee is charged to you, if you complete an application and are accepted for tenancy. A lease need not be executed, nor must occupancy be taken. If your application is denied or the landlord cannot provide the apartment after acceptance, your fee will be refunded.”
[Second Realty Company] receives a fee equal to one month’s rent (unless otherwise stated in writing, it is understood that the tenants may be seeing full fee, half fee, and/or no-fee apartments) as compensation for introducing, locating, and providing professional services in connection with the rental process. This fee may be paid in whole by the landlord, the prospective tenants, or in part by the landlord and the prospective tenants. If an applicant withdraws from an apartment after being approved, his/her deposit will be applied to the realtor fee.”
I do not see a website for the first realty company. This makes it sound like the one month’s rent is to be paid with the application itself, before even being approved. Is this type of writing normal in a lease agreement? Is there a formal way to get approval on record so that we know for sure that we were approved before we pay the broker’s fee?
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source https://www.reddit.com/r/RealEstate/comments/18v6q2b/please_help_is_this_normal_for_rental_property/
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