|
 |
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by anon
on April 21, 2015 @12:55
|
|
You want to charge 1 months rent for YOUR taking 5 days to get the house ready???? No, you can't. Use the rental binder form with a small deposit that will be credited toward first month's rent.
|
|
[
Reply
]
[
Return to forum
]
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Anonymous
on April 21, 2015 @14:28
|
[ Reply ]
|
|
|
Hello. I am the OP.
I knew someone would say this. It is not my taking 4 or 5 days, it is the cost and 30 hours of my time to get the house ready:
1. the utilities transferred (takes two to three days)
2. utilities verification of transfer to tenant’s name (3 to 4 days)
3. the front and back yards completely raked and manicured,
4. lawn mowed,
5. all shrubs and trees watered,
6. all shrubs trimmed
7. all walkways swept
8. complete interior re-dusting,
9. a/c filter cleaned,
10. all carpets freshly steamed (requires overnight drying),
11. retreat interior with insect bombs (requires overnight before re-entry),
12. both trash and recycling bins emptied by city pick up (takes 5 days)
13. all cabinets re-shined with Liquid Gold,
14. floors washed,
15. all smoke detector batteries replaced,
16. 20 outdoor windows washed (hope it doesn’t rain),
17. video and still picture documentation of the entire yard, outside of house and complete interior and garage,
18. lease customized and multiple copies printed and that is only the major items.
IMO this is worth a months rent up front using the LPA rental binder as a receipt. Certainly $500.00 to $750.00. At lease signing, which is always move in day, I have always given the keys upon receipt of certified funds. I am going to have to think about what you-all have said.
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Nicole (PA)
on April 21, 2015 @14:49
|
[ Reply ]
|
|
|
As so often, I don't understand. What do your numbers 2 through 18 have to do with anything? All that should be done prior to advertising the unit. Your potential tenants need to pay for that because ... why ?
Transferring utilities must be different in your area - here, I can do it with one telephone call to each utility - takes minutes, not days.
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by jannie (IL)
on April 21, 2015 @15:04
|
[ Reply ]
|
|
|
Much of what was listed were things I made sure were done before I even showed the house. As far as utilities I can't put them into my tenants name = they have to do that themselves. I make sure they know they have to call the electric/gas/water and change it to their name. The date is the date the lease starts if not a weekend. I do tell them they need to call utilities several days in advance for the meters to be read, etc. I call the utilities before the people actually move in just to make sure T didn't forget :)
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Anonymous
on April 21, 2015 @18:16
|
[ Reply ]
|
|
|
Hello the OP again. Yes, Nicole and Jannie. Yes, all of that on my list has been done before, in fact several times since I have been showing the house. It took me a whole month to clean and repair the damages from the last tenant. But I deliver the house to tenants "glove clean" which entails doing everything again.
It takes the utilities several days to verify that the new names are on the accounts. I think the holding fee should also be called a commitment fee because it demonstrates the commitment of the tenants to follow through with the rental. It also demonstrates that they actually have the move in funds. Some of these yahoos goo window shopping even though they don't have the money.
Of course, in all cases, the holding/commitment fee is applied to the SD or the 1st months rent.
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Nicole (PA)
on April 22, 2015 @08:54
|
[ Reply ]
|
|
|
...which entails doing everything again...
Again, I guess I don't understand. I relooked at your list. Why in the world would you change smoke detector batteries, repolish kitchen cabinets, rewash windows, retrim bushes, etc. AGAIN after having all this done and ready for showings? Again, I am missing something here. Perhaps you want to reclean the front storm door where finger smudges have shown up and sweep the walks, mow the lawn but wash the trash cans from a building that was empty?
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Anonymous
on April 21, 2015 @18:18
|
[ Reply ]
|
|
|
Hello the OP again.
If there was no holding fee/commitment fee, when moving day came the tenants could just not show up or say they changed their mind and I would be out the 4 or 5 days of final preparation time and expense. On the flip side, if there was no holding/commitment fee, the tenants could show up on lease signing/move in day and I could not show up, or say I changed my mind, or that I rented it to someone else. Does that make sense?
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Barb
on April 21, 2015 @18:55
|
[ Reply ]
|
|
|
|
Still, why not just have the lease signed prior to move in/ready date 4-5 days away? The new tenants would have a lease to show the utility companies and arrange to have them on before moving in. Having the lease signed ahead of time would let you receive the security deposit and rent prior to giving them keys.
|
|
Re: Is Non-Refundable Holding Fee Unreasonable?
by Garry (Iowa)
on April 21, 2015 @16:46
|
[ Reply ]
|
|
|
|
I agree with Nicole and Jannie. Items 2-18 have nothing to do with fees, deposits, rent, or signing a lease. Those are all things you should have done, or would be in the process of doing them, by the first day you advertise the place for rent. A prospective T does not care if it takes you 2 days, 2 weeks, or 2 months to get your place ready, as long as its ready on the day they want to move in. They also don't care if it costs you $500 or $5,000 to get it ready. The money and time spent is just the cost of doing business as a LL. And only a really dumb T is going to put down a large amount of money, and not walk away with a signed lease in hand. They may put down $50 with more to come later, but not $500, as they could probably afford that much loss if you didn't perform things on your end.
|
|
|
Look-up
Associations
Attorneys
Businesses
Rentals Available
Rentals Wanted
Realty Brokers
Landlord Articles
Tips & Advice
Tenant Histories
Other Areas
Q&A Forum
Free Forms
Essential Forms
Landlord Tenant Law
Join Now
Credit Reports
About Us
Site Help
|
