I can speak for how the protocol is done by me, in the Cherry Hill area. Once a meeting of the minds is made, leases will then be prepared. This way everyone is in agreement before anything is signed. At that time the security deposit and first month's rent will be delivered to the landlord in certified funds. The lease would then be contingent upon a final walk through of the property just before you move in.
I hope this helps.
Did you sign an approved lease, or is it just the application?