“A licensed real estate salesperson may not, on behalf of an owner, collect a payment from prospective tenants in order to reserve or ‘hold’ apartments (regardless of whether such payment is refundable or non-refundable),” wrote REBNY’s broker counsel Neil Garfinkel, in an answer to a broker’s question in REBNY’s newsletter in February 2020.
Abrams Garfinkel Margolis Bergson, LLP
