Re: Is Non-Refundable Holding Fee Unreasonable?

Re: Is Non-Refundable Holding Fee Unreasonable? by Anonymous on April 21, 2015 @18:18

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?

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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 333921