ATCP 134.05ATCP 134.05 Earnest money deposits and credit check fees.
ATCP 134.05(1)(1) Accepting an earnest money deposit. A landlord may not accept an earnest money deposit or security deposit from a rental applicant until the landlord identifies to the applicant the dwelling unit or units for which that applicant is being considered for tenancy.
ATCP 134.05 NoteNote: A credit check fee authorized under sub. (4) is not an “earnest money deposit” or a “security deposit.” See definition of “earnest money deposit” under s. ATCP 134.02 (3).
ATCP 134.05(2)(2) Refunding or crediting an earnest money deposit.
ATCP 134.05(2)(a)(a) A landlord who receives an earnest money deposit from a rental applicant shall send the full deposit to the applicant by first-class mail, or shall deliver the full deposit to the applicant, by the end of the next business day after any of the following occurs:
ATCP 134.05(2)(a)1.1. The landlord rejects the rental application or refuses to enter into a rental agreement with the applicant.
ATCP 134.05(2)(a)2.2. The applicant withdraws the rental application before the landlord accepts that application.
ATCP 134.05(2)(a)3.3. The landlord fails to approve the rental application by the end of the third business day after the landlord accepts the applicant’s earnest money deposit, or by a later date to which the tenant agrees in writing. The later date may not be more than 21 calendar days after the landlord accepts the earnest money deposit.
ATCP 134.05(2)(b)(b) A landlord who receives an earnest money deposit from a rental applicant shall do one of the following if the landlord enters into a rental agreement with that applicant:
ATCP 134.05(2)(b)1.1. Apply the earnest money deposit as rent or as a security deposit.
ATCP 134.05(2)(b)2.2. Return the