Re: Holding Apartment Question - Landlord Forum thread

Re: Holding Apartment Question by Lisa on November 6, 2009 @00:19

Does LPA have a holding fee agreement? I only can find the Application to Rent on LPA.

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Re: Holding Apartment Question by OK-LL on November 6, 2009 @01:34	[ Reply ]
I use a modified version of the LPA application with the holding fee language just above the signature lines.

Re: Holding Apartment Question by Lisa on November 6, 2009 @10:37	[ Reply ]
Any chance you might share something to the effect that you use as that modified language?

Re: Holding Apartment Question by OK-LL on November 7, 2009 @09:07

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I HEREBY PAY THE SUM OF $_____.00 TO THE LANDLORD/AGENT AS A HOLDING FEE TO SECURE THE ABOVE PREMISES TO RENT, PENDING EXECUTION OF A LEASE OR RENTAL AGREEMENT. I UNDERSTAND THAT THIS HOLDING FEE IS NON-REFUNDABLE AND IS TENDERED IN EXCHANGE FOR RENT LOSS OR OTHER INDETERMINENT EXPENSES, THE LANDLORD/AGENT MAY INCUR AS A RESULT OF MY FAILURE TO FULFILL MY PROMISE TO RENT THE ABOVE NAMED PREMISES BY SIGNING A LEASE OR RENTAL AGREEMENT NO LATER THAN _________TO OCCUPY BY ________. THIS HOLDING FEE WILL CONVERT TO A PORTION OF THE 1ST MONTH’S RENT AT THE SIGNING OF A LEASE OR RENTAL AGREEMENT.

LANDLORD/AGENT AGREES THAT THE HOLDING FEE IS REFUNDABLE IF THE ABOVE APPLICANT IS NOT APPROVED, PROVIDING THAT THIS APPLICATION HAS BEEN FILLED OUT COMPLETELY AND TRUTHFULLY.

Re: Holding Apartment Question