Metro Spaces

refundable deposit? what's the point of that?

Think the idea is they have an exclusive arrangement with the building and if they go forward with the lease they want to be sure that the tenant won't back out, more of a 'good faith' deposit that will be applied to rent

I'm questioning it as well

oh I see, I was thrown off by the word "refundable".

i did rent with Metro-spaces before. Great Customer Service. i did pay $500 that went toword my first month rent. (Good Faith Deposit)

Very Professional Service! they took me out and show me great apartments and make sure everything is going well!

they dont have exclusive anything. why do the major brokergae firms who really have exclusives never ask for this. i tried them in the oast and found they infalte the true rental price by 20-30%. the refundable deposit should be paid directly to the management company/apartment owner. never pay this to a broker.

My company policy is to never ask for a deposit, always has been. I think the practice, despite broker intentions, just smells shady, even if it isn't.

It's a good faith deposit to dissuade you from backing out of the deal. Not really "shady", they're just trying to get you to put some skin in the game. As long as you are serious about taking the apartment and receive a written receipt stating the terms of the deposit you are fine. Good luck.