Can a landlord charge a $500 non-refundable fee to hold a rental unit?

I’ve been in communication with a landlord regarding a rental house since January (2012). Early on in the communications, he mentioned that he needed to do some work on the house but would send me a lease as soon as it was available. He asked for $1,300 rent per month and a $1,500 deposit. I said that I could afford it and would read the lease when it arrived. For the past few months we’ve been in communication and but he’s not sent me the lease. He recently (March 23, 2012) called to tell me that the house was almost ready and to ask when I would be available to move in. He mentioned that he needed a date to put on the lease before he would send it to me. I told him that I’d need to give 30 days notice at my current place and would like to move in on the 1st of the month to avoid paying rent at two places. Today, I mentioned that the date to put on the lease (best for me) would be June 1. He told me that he’d do that; if I agreed to send him first month’s rent $1,300, to “hold” the place for me until June 1. He said that, if anything happened between now and then and I didn’t move in, he would keep $500 and return $800. My question is – is that legal? It seems like $500 is a lot of non-refundable money to hold onto when I haven’t even seen the lease yet. Also, am I obligated in anyway? I’ve been patient waiting for the lease to see what his terms are. Thanks for your help!