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Our Agent took "Deposit"

Our Agent showed the rental house to a young couple and they wanted the house so they gave our Agent $300.00 and filled out a Rental Application.  The receipt said $300.00 for rental and the balance owed is $2000.00.  Agent removed add and 12 days later the tenants decided they didn’t want the house and they demanded the full deposit back.  We lost all that time to potential renters. Is there any way we could have kept that $300.00 ?
1 Comment

Instead of a deposit it should have been a "holding fee".  Deposits are refundable, fees are not.
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