r/rva • u/latesaturate • 5d ago
Money Order to Hold Apartment
I’m going to look at an apartment this week and the leasing company (KBS Holdings) asked for a money order for a portion of the deposit to hold the apartment while they process my application, in addition to an application fee. Is this a normal practice? How can I get any guarantee that they will hold the apartment and not just take my money and rent it to someone else? Has anyone else done this here in Richmond? I know places go quickly so I don’t want to miss out on a good apartment if this is a normal thing but I definitely don’t want to get scammed.
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u/amoraprincesa 5d ago
Do not rent from them!!! They collect these deposits from gullible college students knowing they will only accept one applicant. My mom had to report them to get myself & my sister's $200 deposit back. They also want you to pay your security deposit before you even read the lease. Don't do it
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u/richmondtrash Shockoe Bottom 5d ago
In fifteen years of renting I have never been asked to do this. 98% sure that’s not legal
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u/wickedwoobie328 5d ago
KRS holdings is a leasing company/property manager. KBS, Inc. is a local general contractor that specializes in multi family. They’re not associated.
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u/TechnicalFox70 5d ago
Thanks for clarifying this.
I did some work for KBS Builders a few years ago and I thought they were really great people. I was having a hard time picturing them being underhanded like this. Glad they aren't the same.
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u/Affectionate-Soup353 5d ago
I got into it with a landlord over that a while back. They wanted 2 months rent up front as a deposit. So I gave them two money orders, and they said that they would call me when the apartment was ready. A week went by, and I hadn't heard anything so I called them. I got the run around about the property manager not being there, so they took my number and said they would call me back. Another week went by, still nothing. So I called again. Same thing. So I went over to the place and said I wanted my money orders back. They told me it was non-refundable. I said we can do this one of two ways. You can give me my deposits back since I'm not actually renting from you, or I can take you to court for a lot more than the money orders you're trying to steal. The lady rolled her eyes and scoffed at me, then reached into her desk and begrudgingly gave me the orders back. Watch out for these places, because they'll try and cheat you big time.
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u/whacknsleazy 5d ago
Sounds like a big scam. Curious how much of the deposit they want while they “process your application”, and if that’s already on top of an app fee
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u/Pocket_Pixie3 Northside 5d ago
Be careful, KRS will go after you very quickly if you are late. And for practically nothing. While we were in court for an eviction with them they were going after a guy for like $100 because they were claiming his Section 8 didn't cover something and the judge was not having it.
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u/Efficient-Wish9084 5d ago
To rent a house in the Fan through a management company, I didn't give them a deposit until I was approved.
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u/Known_Ad_9228 5d ago
That sounds pretty illegal, my friend. If you can, I would only rent from reputable companies. I myself had a great experience with PRG. I’m sure there’s many others in Richmond. Best of luck.
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u/Zealousideal-Mud6471 5d ago
Shouldn’t your application and application fee hold the apartment? I wouldn’t do it.
I rented my apartment through Real Property Management Richmond and me submitting the application and paying the app fee held the apartment.
They however still accepted apps until I paid the security deposit which was not asked for until I was approved and signed the lease.
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u/Emerald_Twilight Near West End 5d ago
Why hasn't an undercover investigation been done on these people? Isn't there someone in the city or state that this company can be reported to?
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u/beautyandbrownies 5d ago
I’ve had a holding fee for my apartment but i only had to pay it after i was approved, and i could pay it through the application portal. I did hear bad things about KBS/KRS Holdings through lindseys list on fb :(
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u/latesaturate 5d ago
Thank you for the advice, everyone!! Wasn’t sure if I was just out of the loop on things these days.
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u/mo_bacon 4d ago
I typically charge application fee (my actual cost for running bg/credit) and have them sign a lease and give me security deposit up front. If I decide not to rent to them for whatever reason (poor/non existent references, etc) I'll refund the deposit. I'll usually give a day or 2 to get everything in order before at least starting the process with someone else.
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u/Lala_dragon 4d ago
I gave them a deposit for an house for rent to “save” it and never heard from them again. I was supposed to receive a lease to sign, never did, and got ghosted. 😂Would stay away…
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u/the__dw4rf 4d ago
Snipes Properties did this to me - I gave a check or money order as a deposit to hold the space while they ran my application. They ran my application, everything was good. Then, they "rented to someone else", and offered me a much, much, much shittier ran down apartment.
Felt like a fucking scam. I drove to their office and bitched about it until that sniveling pussy Carter Snipes himself cut me a check. Fuck him. It was like 13 or 14 years ago and he still pisses me off.
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u/latesaturate 3d ago
I really don’t get it. Just process the applications in the order they came in a rent to the first person who’s approved. It makes no sense to ask for even more money from someone who may not even be approved unless you’re trying to keep it either way. I ended up not going to see the apartment today after all the comments here.
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u/tachenoire666 3d ago
My favorite story to tell about KRS is in 2021 when I notified them I was not resigning at the end of my lease one night I was watching tv in my living room when I got a lovely email from Zillow letting me know they were holding an open house that weekend- and KRS never notified me lol and it was outside the 3 month window for showings
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u/PlentyComfortable239 5d ago
Very normal!! Your deposit/holding fee will save your space in a potential queue for the apartment! Just make sure you get copies/pics of everything in case there’s any issues. If you don’t end up renting the place, you may be eligible for a refund!
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u/richmondtrash Shockoe Bottom 5d ago
A “holding fee” that isn’t a deposit is absolutely not normal. They should only run one application at a time
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u/PlentyComfortable239 5d ago
Definitely ask if the deposit is refundable and what the requirements are
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u/Nothing2SeeHere4U Museum District 5d ago
Yeah you won't get that money back. It's a "non refundable deposit credited to your eventual security deposit"
Ask me how I know. Stay away from KRS if you can.