The applicant understands that a finder's fee of one half of one month's rent is due the agency, payable by the applicant, upon submitting an application for a rental unit. This fee is compensation to the listing agency for the service of listing rental units and finding an acceptable unit. This fee, as well as one month's rent, must accompany the application and will be held until you are informed of the landlord's acceptance of your tenancy.

Upon acceptance, the finder's fee is cashed and the initial deposit is forwarded to the landlord. If your application is denied, the finder's fee and initial deposit will be returned to you. If your application is accepted and for any reason you change your mind, the agency fee will be forfeited and remain as compensation to Kendrick Property Management, Inc. The landlord may keep your rent deposit as liquidated damages if she/he suffers damages due to the loss of rental income.