 lease for tenant (by Nicole [NY]) Feb 2, 2019 1:25 PM
 lease for tenant (by plenty [MO]) Feb 2, 2019 1:26 PM
lease for tenant (by JB [OR]) Feb 2, 2019 2:05 PM
lease for tenant (by Jason [VA]) Feb 2, 2019 2:17 PM
lease for tenant (by Vee [OH]) Feb 2, 2019 5:13 PM
lease for tenant (by cjl [NY]) Feb 3, 2019 7:49 AM
lease for tenant (by Still Learning [NH]) Feb 3, 2019 9:12 AM
lease for tenant (by Nicole [NY]) Posted on: Feb 2, 2019 1:25 PM
Message:
State Specific Question About: NEW YORK (NY)
Hi there!
I have an apartment that is not ready yet, but I have a person that wants to rent it. I told him that it will be ready March 1. He said he would like to rent it. He suggested putting a deposit on the apartment so I know they are serious. What is the protocol for this. It may be a few weeks before it is ready. Should I accept a deposit and have him sign a lease. If so should I accept the security deposit or make up a number like 500.00 for deposit?
--172.101.xxx.xxx |
lease for tenant (by plenty [MO]) Posted on: Feb 2, 2019 1:26 PM
Message:
Fee. Not deposit. --99.203.xx.xxx |
lease for tenant (by JB [OR]) Posted on: Feb 2, 2019 2:05 PM
Message:
Look up the document "Holding Fee" --24.20.xxx.xxx |
lease for tenant (by Jason [VA]) Posted on: Feb 2, 2019 2:17 PM
Message:
I charge a holding fee equal to one month’s rent.
Make sure you spell out that this fee is not refundable for any reason, but will be credited towards their security deposit at lease signing.
Though I’ve recently learned it doesn’t matter how clear and concise you are with your words if they don’t bother to read it. I recently had somebody fail to honor their side of our holding fee agreement. They’re now wishing they had read it more carefully (or at all). --174.226.x.x |
lease for tenant (by Vee [OH]) Posted on: Feb 2, 2019 5:13 PM
Message:
You will find a better tenant once the unit is ready, cleaned and you have been to some landlord meetings, download and print your state and local tenant rules, place in a 3 ring binder flip the book over for the state rules so you don't get them mixed up, visit housing court as an observer a couple months so you have a idea of how the rubber meets the road when a tenant screams out - I am going to sue you.
The terminology is holding fee that converts when remaining monies have been paid in certified funds, first step is a application with a background, criminal and credit check, don't accept any of these documents the tenant wants to provide - follow what your fellow landlords are doing to filter out the bum renters.
--76.188.xxx.x |
lease for tenant (by cjl [NY]) Posted on: Feb 3, 2019 7:49 AM
Message:
Assuming that you have done the background checks and credit checks and such and that this tenant PASSED then I agree with the Holding FEE. LOCK THEM IN. However, you need to also make that form indicate that if the apartment is NOT ready for them to move in by 3/1 then they are entitled to that amount returned (you can't hold their money hostage so to speak). "Tit for tat".
Anyway, yes, make it an amount that is equal to the SD and as long as they follow through with the rest of the "deal" (pay the remaining monies owed - written out, change utilities (as appropriate) into their names, sign the lease/paperwork and take possession (keys) by 3/1/2019 - then the amount equivalent to the Holding Fee will be credited towards their move-in amount. Otherwise, it stays as a FEE. --69.201.xx.xxx |
lease for tenant (by Still Learning [NH]) Posted on: Feb 3, 2019 9:12 AM
Message:
As soon as they are approved, I want a lease signed within a few days along with holding fee or security deposit. I don’t want to know they are serious, I want them contractually obligated. --24.61.xxx.xx |
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