Is a reservation fee collected at the time of an apartment application subject to the statute 83.49 if the application states that the fee p...

Question

Is a reservation fee collected at the time of an apartment application subject to the statute 83.49 if the application states that the fee paid will be applied as a "security deposit" upon move in. The application also states that this same fee is forfeited f the reservation is cancelled by the applicant after 48 hours. Example: we collected a non-refundable application fee, Non-refundable fee to be applied towards SD upon move in, and a non-refundable administration fee. App says we won't refund if all cancelled by applicant after 48 hours. Applicant cancels after nearly two weeks and now wants refund. They just decided not to move.... Are we legally required to refund anything?

Answer

The actual document needs to be reviewed. Your summary would indicate that it is no refundable, but without seeing the actual document that cannot be answered with any certainty.