Residential Rental Lease Agreement Wi

You can require a tenant to deposit a serious money bond, which is a sum to keep the apartment while the landlord reviews the application. If the landlord rejects the tenant`s application or if the tenant withdraws the application before the landlord accepts or rejects it, the full deposit must be refunded on one business day. It must also be fully returned if the owner does not approve the request within 3 days. The examination of the application may take up to 21 days if both parties agree. If a lease is signed, the serious money must be either on the rent, be part of the deposit, or be returned to the tenant. Otherwise, the lessor may, if the tenant reinstates it after acceptance, withhold the deposit for damages or charges incurred for the failure to pay or additional advertising costs, if any. .

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