This is very close to the form here in the kit for landlords - the implication of deposit means it is to be returned, the fee is a fee for removing the property from other prospective renters with option to convert to security deposit, you will likely have to return it if asked in court. -->
Non Refundable Binder
This will acknowledge receipt of the sum of $ _____ by _____________________ ("Landlord") from_____________________ ("Applicant") as a holding fee to hold vacant the rental property at _____________________, until _____________________ at _____________________. The property will be rented to Applicant on a _____________________ basis at a rent of $_____per month, if Applicant signs Landlord's written _____________________and pays Landlord the first month's rent and a $ _____ security deposit on or before that date, in which event the holding fee will be applied to the first month's rent.
This Agreement depends upon Landlord receiving a satisfactory report of Applicant's references and credit history. Landlord and Applicant agree that if Applicant fails to sign the Agreement and pay the remaining rent and security deposit, Landlord may retain this holding fee to compensate Landlord for lost income and inconvenience.
This binder will be returned to the Tenant less the cost of the credit check $_____ if the Tenant is not approved for any reason.