How Long Do You Hold Unit
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How Long Do You Hold Unit (by Jeff [CO]) Jan 15, 2019 1:20 PM
       How Long Do You Hold Unit (by myob [GA]) Jan 15, 2019 1:25 PM
       How Long Do You Hold Unit (by S i d [MO]) Jan 15, 2019 2:01 PM
       How Long Do You Hold Unit (by NE [PA]) Jan 15, 2019 2:20 PM
       How Long Do You Hold Unit (by Barb [MO]) Jan 15, 2019 2:20 PM
       How Long Do You Hold Unit (by NE [PA]) Jan 15, 2019 2:23 PM
       How Long Do You Hold Unit (by Jeff [CO]) Jan 15, 2019 2:25 PM
       How Long Do You Hold Unit (by Moshe [CA]) Jan 15, 2019 3:54 PM
       How Long Do You Hold Unit (by 6x6 [TN]) Jan 15, 2019 4:52 PM
       How Long Do You Hold Unit (by David [MI]) Jan 15, 2019 4:52 PM
       How Long Do You Hold Unit (by David [MI]) Jan 15, 2019 4:54 PM
       How Long Do You Hold Unit (by Julie [KS]) Jan 15, 2019 5:00 PM
       How Long Do You Hold Unit (by Hoosier [IN]) Jan 15, 2019 5:17 PM
       How Long Do You Hold Unit (by 6x6 [TN]) Jan 15, 2019 5:30 PM
       How Long Do You Hold Unit (by Barb [MO]) Jan 15, 2019 5:39 PM
       How Long Do You Hold Unit (by Jim in O C [CA]) Jan 15, 2019 5:56 PM
       How Long Do You Hold Unit (by AllyM [NJ]) Jan 15, 2019 6:16 PM
       How Long Do You Hold Unit (by BRAD 20,000 [IN]) Jan 15, 2019 7:39 PM
       How Long Do You Hold Unit (by Robert J [CA]) Jan 15, 2019 9:20 PM
       How Long Do You Hold Unit (by WMH [NC]) Jan 16, 2019 2:59 AM
       How Long Do You Hold Unit (by Dan [NY]) Jan 16, 2019 4:25 AM
       How Long Do You Hold Unit (by myob [GA]) Jan 16, 2019 5:13 AM
       How Long Do You Hold Unit (by Jeff [CO]) Jan 16, 2019 6:38 AM
       How Long Do You Hold Unit (by 6x6 [TN]) Jan 16, 2019 7:46 AM
       How Long Do You Hold Unit (by Jeff [CO]) Jan 16, 2019 7:58 AM
       How Long Do You Hold Unit (by myob [GA]) Jan 16, 2019 10:15 AM
       How Long Do You Hold Unit (by 6x6 [TN]) Jan 16, 2019 11:10 AM
       How Long Do You Hold Unit (by Ray-N-Pa [PA]) Jan 19, 2019 1:17 PM
       How Long Do You Hold Unit (by 6x6 [TN]) Jan 19, 2019 1:41 PM

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How Long Do You Hold Unit (by Jeff [CO]) Posted on: Jan 15, 2019 1:20 PM
Message:

Let's say you have a vacancy now, and you get interest from people for February 1st, 10th, whatever.

I have been telling them that I will hold it for as long as they want, but we need an executed lease and rent paid within a few days.

I don't know if that's reasonable. If I were to rent a place effective 2/1 today, I would be willing to split this month with them.

How do you handle this?

--76.120.xx.xx




How Long Do You Hold Unit (by myob [GA]) Posted on: Jan 15, 2019 1:25 PM
Message:

We don't hold. We pro-rate if before the middle of the month. After the 15th they need full month then the next month we collect the pro rated days. This keeps them from moving in on just 3 days rent and a deposit. --99.103.xxx.xxx




How Long Do You Hold Unit (by S i d [MO]) Posted on: Jan 15, 2019 2:01 PM
Message:

2 weeks maximum hold, then they have to start paying rent. To hold, they must provide cash/cash equivalent funds in the amount of the security deposit as a Holding FEE, which if they move in as scheduled will be credited toward the move-in costs. But if they back out for ANY reason, that FEE is forfeit as liquidated damages because we turned other potential renters away.

Regardless of when they move in, we collect the first full payment due, but then we prorate the second payment to get them on schedule. --173.20.xxx.xxx




How Long Do You Hold Unit (by NE [PA]) Posted on: Jan 15, 2019 2:20 PM
Message:

I will hold for 2 weeks max, but I want 50% of the entire amount due down as a holding fee. I also offer them to pay that electronically. --50.107.xxx.xxx




How Long Do You Hold Unit (by Barb [MO]) Posted on: Jan 15, 2019 2:20 PM
Message:

I generally sign leases 2 - 3 months in advance, so it doesn't usually require holding a vacant place. At that time, we collect a holding fee. That fee becomes the move in fee and first month's rent, and is non-refundable.

In the case of a vacant place, I am looking to collect rent immediately. I might hold a week, but unlikely to hold a vacant place longer for no money. --64.251.xxx.xxx




How Long Do You Hold Unit (by NE [PA]) Posted on: Jan 15, 2019 2:23 PM
Message:

Wow Barb, how do you maintain control signing a lease 2-3 months in advance? Are you collecting money and retaining the keys? --50.107.xxx.xxx




How Long Do You Hold Unit (by Jeff [CO]) Posted on: Jan 15, 2019 2:25 PM
Message:

Barb, I was wondering the same thing - 2-3 months??? Move in fees? --73.95.xxx.xx




How Long Do You Hold Unit (by Moshe [CA]) Posted on: Jan 15, 2019 3:54 PM
Message:

All depends on your market.

I start showing apartments 1-1/2 months before old tenant leaves, for a starting date of the first, after the tenants are out. I fudge for a few days to get the property ready. I wouldn't hold it empty at all without paid rent, and very few tenants are willing to pay for an empty apartment.

I do it this way because I can. My market is good enough to be able to do this. Other markets may not have this situation.

--47.139.xx.xxx




How Long Do You Hold Unit (by 6x6 [TN]) Posted on: Jan 15, 2019 4:52 PM
Message:

Why do you all prorate on the second month instead of the first month? Would it not be simpler to collect security deposit,first months rent and any prorated amount up front? How do you put in the lease to prorate on the second month? --73.120.xx.xxx




How Long Do You Hold Unit (by David [MI]) Posted on: Jan 15, 2019 4:52 PM
Message:

i do not hold . I also keep showing the house until a lease is a signed --50.4.xxx.x




How Long Do You Hold Unit (by David [MI]) Posted on: Jan 15, 2019 4:54 PM
Message:

"Would it not be simpler to collect security deposit,first months rent and any prorated amount up front?"

That would be a violation of security deposit law if you're already maxing out the deposit.

"How do you put in the lease to prorate on the second month?"

$x,xxx due each month, except for February when $yyy is due --50.4.xxx.x




How Long Do You Hold Unit (by Julie [KS]) Posted on: Jan 15, 2019 5:00 PM
Message:

I'm with Barb & am usually showing & pre-leasing 45 to 60 days prior to lease expiration. Collect the non-refundable holding fee (security deposit) plus application fee. Sign the non-refundable holding fee binder & the lease & wait for the lease start date.

I've got a vacant unit right now & want it rented right now. If they're looking for a March 1 date I won't even bother to show. I'm not holding a unit vacant for 45 days. If they need to wait a week, I'll hold it a week with a signed lease, security deposit, app fees & first month's rent collected.

If I have a vacant unit I advertise available immediately & make it clear during pre-screening that this unit won't be held for any amount of time; occupancy is available immediately. --104.128.xx.xx




How Long Do You Hold Unit (by Hoosier [IN]) Posted on: Jan 15, 2019 5:17 PM
Message:

I will hold 72 hours with no money, then expect payment of first month's rent and deposit non-refundable. --99.92.xxx.xxx




How Long Do You Hold Unit (by 6x6 [TN]) Posted on: Jan 15, 2019 5:30 PM
Message:

David,why would that be a violation? Because of the prorated part? --73.120.xx.xxx




How Long Do You Hold Unit (by Barb [MO]) Posted on: Jan 15, 2019 5:39 PM
Message:

The market Iím in is heavily college students. They rent June 1 to end of May, sometimes August 1 starting.

I start showing and signing the last week of January, after the students come back. Iíve already got notice from two of them that they are not renewing. Iíll rent out theirs first.

I use a move in fee rather than a deposit as is customary in my market. It is my average turnover cost. I roll two hours of cleaning into it. I donít tell them that. I send a bill after move out.

I sign a holding fee, sign the lease, but hold the keys until they move in. --64.251.xxx.xxx




How Long Do You Hold Unit (by Jim in O C [CA]) Posted on: Jan 15, 2019 5:56 PM
Message:

For the ideal tenants I will hold for 30 days with all monies paid in advance. What is the ideal tenant, great credit, excellent rental history, 6 months rent or more in the bank, low debt, 2 adults and 2 small children, non smokers and no pets. --99.23.xxx.x




How Long Do You Hold Unit (by AllyM [NJ]) Posted on: Jan 15, 2019 6:16 PM
Message:

I get the lease signed and as soon as they give me the security they get the key to move in at their leisure. They must also get the utilities in their name. They pay the first month's rent when they have moved in completely on the appointed day. But this has to be within two to three weeks. --73.248.xxx.xxx




How Long Do You Hold Unit (by BRAD 20,000 [IN]) Posted on: Jan 15, 2019 7:39 PM
Message:

Jeff,

This works EVERY TIME without fail and without confusion, and without being challenged in court:

***It ainít rented til itís rented***

We text they are approved and ask if they have the money amd are ready to sign. If they aswer yes we set up the 2 Minute In Home Visit appt within 24 hours.

Change: we now take the lease to the visit and accept their deposit. We set a sit down appt to review the lease and pass keys.

The prorated rent starts the day we take it off the market.

Not ready? NEXT! Weíll keep you approval open for 30 days for our other homes.

PayDayPlanRent makes this easier - depsoit plus first week of rent while other LL wait for full dep and full month.

BRAD

--73.102.xxx.xxx




How Long Do You Hold Unit (by Robert J [CA]) Posted on: Jan 15, 2019 9:20 PM
Message:

I never "hold". But I will process an application and confirm all needed items to start a tenancy. Once approved, the applicant has two or three days to come up with all of the move-in costs and sign a lease. That's First Months Rent and Security.

Until they sign on the dotted line, I'm still showing the unit and taking more applications.

The only exception is when someone comes to me before an exiting tenant has vacated and want's the apartment. With a completed application, when the unit is ready, I will give them the first bite of the apple. If they blow me off or fail to move quickly, I will give it to someone else. --47.156.xx.xx




How Long Do You Hold Unit (by WMH [NC]) Posted on: Jan 16, 2019 2:59 AM
Message:

No holds. I start marketing 60 days outs. Deposit due when lease is signed. First month rent due before they get keys. Rent is ue no matter when they move in.

Recently had a lady rent a place she didn't need until February. THat's fine but I'm not holding it until February, so she paid Deposit, 1/2 December and all of January and will actually move in February.

It's not rented until it's rented. --50.82.xxx.xx




How Long Do You Hold Unit (by Dan [NY]) Posted on: Jan 16, 2019 4:25 AM
Message:

We show until we get a holding fee. The holding fee takes the unit off the market. We take ones months rent that becomes the security deposit. We use to do a half month now we do a full month. --107.242.xxx.x




How Long Do You Hold Unit (by myob [GA]) Posted on: Jan 16, 2019 5:13 AM
Message:

6x6 it's a numbers game. If we ask for 1500.00 deposit, rent may be 1000.00 and lets say half month pro rated of 500.00-- those are Hugh for a tenant-- your getting into numbers that would get the tenant thinking -- for a few K more I could buy a house. They just don't have the reserves for ALL out payment upfront. Lets not forget utilities need to be applied for and deposits on those made. Don't want a tenant broke right out of the gate!!! --99.103.xxx.xxx




How Long Do You Hold Unit (by Jeff [CO]) Posted on: Jan 16, 2019 6:38 AM
Message:

Dan, but how long will you hold a unit without receiving rent once you have the holding deposit in place? --76.120.xx.xx




How Long Do You Hold Unit (by 6x6 [TN]) Posted on: Jan 16, 2019 7:46 AM
Message:

myob,thank you for the explanation and help. Jeff,thanks for the post. --73.120.xx.xxx




How Long Do You Hold Unit (by Jeff [CO]) Posted on: Jan 16, 2019 7:58 AM
Message:

You're welcome, 6x6. --76.120.xx.xx




How Long Do You Hold Unit (by myob [GA]) Posted on: Jan 16, 2019 10:15 AM
Message:

6X6 your welcome. I must say you have very intelligent questions. Thanks for asking them. --99.103.xxx.xxx




How Long Do You Hold Unit (by 6x6 [TN]) Posted on: Jan 16, 2019 11:10 AM
Message:

You all have very intelligent answers,thank you for giving them. --73.120.xx.xxx




How Long Do You Hold Unit (by Ray-N-Pa [PA]) Posted on: Jan 19, 2019 1:17 PM
Message:

I am willing to hold a place for about 3 weeks. I do have a policy though that the future resident pay rent for 1/2 half of that period.

I call that payment the holding fee along with the holding deposit that they will have to make --72.23.xxx.xx




How Long Do You Hold Unit (by 6x6 [TN]) Posted on: Jan 19, 2019 1:41 PM
Message:

Very interesting how many different ways people do things. --73.120.xx.xxx



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