Although I found the Knollwood apartments a bit dated, I felt their move in deal appealing for the size of the apartments. I applied to numerous apartments north of the river, but decided to stay within the city to further my education. I received all of my deposits back except for one: Knollwood's.
Despite the fact I wouldn't be living in one of their apartments, they felt justified in cashing my deposit. I spoke directly with the apartment manager and she felt completely fine with cashing the check despite the fact I had decided not to move into the apartment. They term it a "reservation fee" but do not disclose that it's non-refundable after 3 days of acceptance. This fact is in fine print at the bottom of the application.
I have lodged a complaint with Better Business Bureau regarding Maxus Properties, but felt it necessary to alert others to this unsavory business practice. The application fee and the deposit are requested when applying in the form of two separate checks. It's understood that the application fee is non-refundable since you are indeed applying. The fact your deposit will be forfeit after 3 days is not disclosed.
I do see this as a lesson learned: Read the fine print because not all businesses function ethically. It's also taught me to not give my money in good faith in the future.
If you apply to Knollwood Apartments or any place run by Maxus Properties, be sure it's the place you want to live: They'll be keeping your money regardless of your decision.