Re: Holding Apartment Question - Landlord Forum thread

Re: Holding Apartment Question by OK-LL on November 5, 2009 @23:15

You should have used a holding fee agreement which would have allowed you to specify a particular amount of $$ which would hold the unit and would be non-refundable, unless tenant doesn't qualify for some reason not including false information provided on the application. That way you would be compensated for the time held, and the lost potential other tenants. On lease signing, that holding fee would convert to partial rent (don't convert it to SD as that may have negative ramifications if it goes to court).

If you had no written agreement pertaining to the deposit, you should attempt to negotiate a reasonable fee with the non-tenant -- like the rental amount for the time held, plus the first advertising fee. Good luck.

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