Can Realtor Keep a Landlord's Deposit?

[jimpc]

What is the name of your state?What is the name of your state? Florida

A realtor found a tenant for me and insists on holding onto the tenant's deposit until the tenant moves in (in 2-1/2 months). I want to give the realtor their finder's fee and put the deposit into an escrow account but they will not turn over the deposit to me. Can the realtor legally hold onto my deposit? I did not sign an agreement stating they could.

 

[CAWI]

Real Estate Agent or Broker?

In some states, if a licensed broker does property management for you and arranges the rental he is required by law to place the tenant deposit in an escrow account. I don't know if Florida is one of the states that requires this. You should check your state laws regarding brokers, landlords and tenants.
The broker does not have any choice if the law is written this way in your state.

 

[HomeGuru]

In some states, if a licensed broker does property management for you and arranges the rental he is required by law to place the tenant deposit in an escrow account. I don't know if Florida is one of the states that requires this. You should check your state laws regarding brokers, landlords and tenants.
The broker does not have any choice if the law is written this way in your state.

**A: oh brother, more BS.

 

[CAWI]

Read your states code to find what is required of Brokers

It is not bs. Wisconsin is a state where licensed brokers are required by law to place the tenant deposit in an escrow account if they receive it. One way to avoid this in Wisconsin is to have the broker help you locate a tenant for a fee, but handle the money transaction yourself so that the broker's hands never touch the money.

Notice I did not call anyone elses advice bs, since I realize that everyone's experiences can be different and we can all learn something new if we check the facts and don't assume that the world hasn't changed from last year. A lot of new legislation takes effect each January and some people don't keep up with the changes in law and court interpretation.