Holding fee (by Vee [OH]) May 26, 2018 5:41 PM
Holding fee (by Robert J [CA]) May 26, 2018 10:55 PM
Holding fee (by Vee [OH]) May 27, 2018 4:59 AM
Holding fee (by NC INVESTOR [NC]) May 27, 2018 5:06 AM
Holding fee (by Vee [OH]) Posted on: May 26, 2018 5:41 PM Message:
After some digging I found the agreement I typed out some years ago. So here you go -->
Holding Fee Agreement
__________, hereinafter referred to as Lessor has a lease located at _________ that is currently available to lease. _______________, hereinafter referred to as Applicants desires to lease this property but can't move in till ____________. Lessor is willing to hold the unit open up till 12:00pm on ________ for compensation in form of a certified funds holding fee. Said fee is ___________________ ($______) and is non refundable. To be paid in full this day.
If Lessee signs the lease agreement that has a term of one year and pays all fees and monies owed under agreement & switches over utilities, then a credit will be given Lessee equal to the amount of the holding fee and said money shall be deducted from the money due at signing of lease agreement. This credit is given based on the fact tenants agree to stay full term and pay all other monies owed at signing.
Lessee states they have reviewed a copy of the lease agreement they are required to sign and return with all additional monies and fees by the end of the holding period. Receipt in hand by landlord constitutes delivery by Lessee.
Signed this ______day of _______ by Applicant _________________, Applicant _________________ .
Lessor _______________ .
--76.188.xxx.xx |
Holding fee (by Robert J [CA]) Posted on: May 26, 2018 10:55 PM Message:
In many jurisdictions there is no such thing as a non-refundable holding fee. So even how crafty you word your document, an applicant can disappear from the face of the earth never giving more money or signing a lease. If you go a head and rent to someone else before the "holding fee" time has expired, then you may have to eject your current tenant and have the place ready for the person who gave you a holding deposit.
So unless your form says the applicant has to return within 5 days and give you the Total Move In Costs (1st month plus Security Deposit) and execute a lease, you may have to refund the deposit. You can also say you're going to prorate the refund for the holding fee, subtracting the days the applicant failed to complete the terms of the tenancy agreement.
I've has people give me a holding deposit then move some wear else, cancel their phone and email service so I couldn't contact them to find out if they still are interested in renting my apartment. Then they get evicted from their other apartment and then return to mine saying, "We are now ready to move in" -- like 3 months down the line. My holding deposit called to notification from both parties and since there couldn't happen, I had to return their full deposit -- as per the judge in small claims court. --47.156.xx.xx |
Holding fee (by Vee [OH]) Posted on: May 27, 2018 4:59 AM Message:
I suggest holding for less than 2 weeks or 14 days. --76.188.xxx.xx |
Holding fee (by NC INVESTOR [NC]) Posted on: May 27, 2018 5:06 AM Message:
Our application states that the holding fee is fully refundable within 2 business days if they are not approved. If they are approved the holding fee is non-refundable but will be applied to the first month's rent provided they sign the lease within 5 days from date of approval.
This passes NC courts but your area may have other restrictions. --71.75.xx.xx |
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