Re: Is Non-Refundable Holding Fee Unreasonable?

Re: Is Non-Refundable Holding Fee Unreasonable? by Anonymous on April 21, 2015 @14:28

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.

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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 22, 2015 @16:27	[ Reply ]

Hello Nicole. No, smoke detector batteries should be changed and fresh right before tenant move in don't you think? I have a ton of nice wood cabinets throughout the house. For some reason Liquid Gold dulls over time and the cabinets look much better with a fresh coat of this on them. Over time the outdoor windows get water marked and dirty with the torrential rains here. Wouldn't you want freshly washed windows? No, during constant maintenance and showings, the trash cans fill up with tree leaves, bush clippings, wrappers, outside debris blown into the yard, boxes, paper, etc. These two containers, one for trash and one for recycling have to be taken to the curb for automatic pick up. The pick up occurs at 7am Wednesday for trash and Saturday morning for recycling. So to get them emptied I have to have them out the night before. Since I don't live there I have to drive over and put them at the curb and then come back the next day to put them in the garage. Wouldn't you want empty cans when you moved in?

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 Anonymous on April 21, 2015 @21:07	[ Reply ]

Barb, thank you I will consider this. But the security deposit is refundable by definition. A fee is not refundable. My state's LL/Tenant statutes do not mention a fee versus a deposit. This state is landlord friendly, and in the 53 eviction cases I sat through only one or two tenants won their cases. So I would rather state: Having the lease signed ahead of time would let me receive the non-refundable holding/commitment fee and rent prior to giving them keys. I like that!

Re: Is Non-Refundable Holding Fee Unreasonable? - Landlord Forum thread 333909