Do You Hold Units?
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Do You Hold Units? (by Jeff [CO]) May 22, 2019 5:17 PM
       Do You Hold Units? (by NE [PA]) May 22, 2019 6:25 PM
       Do You Hold Units? (by plenty [MO]) May 22, 2019 7:17 PM
       Do You Hold Units? (by Robert J [CA]) May 22, 2019 8:06 PM
       Do You Hold Units? (by fred [CA]) May 23, 2019 9:10 AM
       Do You Hold Units? (by David [MI]) May 23, 2019 10:26 AM
       Do You Hold Units? (by Danno [IL]) May 23, 2019 11:20 AM
       Do You Hold Units? (by John [OH]) May 25, 2019 6:12 PM
       Do You Hold Units? (by cjl [NY]) May 26, 2019 9:53 AM
       Do You Hold Units? (by Dave [MO]) May 26, 2019 10:55 AM
       Do You Hold Units? (by Dave [MO]) May 26, 2019 10:55 AM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Do You Hold Units? (by Jeff [CO]) Posted on: May 22, 2019 5:17 PM
Message:

This has been rare, and I usually say no, but I have an empty unit that I showed today and the guy asked if I could the unit until the 15th of June - 3 weeks from now.

I have someone else looking at it tomorrow.

The rent on it has been paid for this month, but I don't even want to hold it for two weeks. I sometimes split the rent wit them, but we're too far away from the 15th.

How would you handle?

--76.120.xx.xx




Do You Hold Units? (by NE [PA]) Posted on: May 22, 2019 6:25 PM
Message:

With approved app, for up to 2 weeks wit 50% holding fee. Put their feet to the fire. --50.107.xxx.xx




Do You Hold Units? (by plenty [MO]) Posted on: May 22, 2019 7:17 PM
Message:

Qualify, Pay, sign, transfer utilities... I'd hold 2 weeks. --99.203.xx.xxx




Do You Hold Units? (by Robert J [CA]) Posted on: May 22, 2019 8:06 PM
Message:

On my last round of vacancies, 3 units in my large complex, I had 11 groups show up at the open house. Since it was the middle of the month, they all wanted to take it as of June 15th, so they could give their current landlord 30 days notice.

I told everyone that I wasn't going to accept a "Holding Fee"! Instead, the first group that meets my requirements and can:

a) Sign a lease

b) Come up with all of the move in cost at signing

will win a tenancy in my building.

I would agree to start applying the first months rent starting from June 1st, letting them move in early. This way they would only have to pay 15 days worth of double rent--to the old and new landlords.

Out of the 11 groups, 6 groups had no issues with paying and signing a lease early. Two more of the groups had to ask family to borrow money...By then I had already filled the 3 units...

A 2 bedroom, a 1 bedroom and a single.

--47.156.xx.xx




Do You Hold Units? (by fred [CA]) Posted on: May 23, 2019 9:10 AM
Message:

I'd hold a house for two weeks, if:

Tenants are verified and approved, All move in costs paid and Contract is signed.

Saying NO and being inflexible for a qualified tenant may cost you the tenant, time and money, unless you have a list of back up tenants. --99.59.x.xxx




Do You Hold Units? (by David [MI]) Posted on: May 23, 2019 10:26 AM
Message:

I believe an applicant who is not ready to move into a house within a week is not qualified. Full stop.

Instead of "holding" it, I will negotiate on waiving the next months prorated rent or providing other incentives. That way you don't have to play around with them not taking possession and you still having a vacant house.

--144.250.xx.xx




Do You Hold Units? (by Danno [IL]) Posted on: May 23, 2019 11:20 AM
Message:

Every year, I usually get at least one rental ad response that they are seeking an apartment in 2 to 3 months' time, when the rental is available NOW. Unless they're persistent with being shown the unit, I normally don't respond back. --174.221.xxx.xx




Do You Hold Units? (by John [OH]) Posted on: May 25, 2019 6:12 PM
Message:

No!Not even with a deposit.

I did once, held the check and then the check was not good and lost two weeks.... Not again! --72.49.xxx.xx




Do You Hold Units? (by cjl [NY]) Posted on: May 26, 2019 9:53 AM
Message:

If that tenant is someone you WANT and it's "only" two weeks I may - my hold fee is equivalent to the Security Deposit amount and is NOT negotiable.

So if the SD is $900 - that's the Fee to hold the property. IF and as long as they follow through with the remaining of the contract (which would be to pay the rest of the money owed to move in, change all utilities as appropriate to their name, take possession (keys, lease signed, etc) by a pre-determined date (or before) THEN I in exchange, will NOT show the property, stop advertising, etc. All of that comes to the point of we would then CREDIT them the $900 (in this example) towards their move in amount. All good.

If they decide (after they've paid the Fee and signed the form) that they don't want the property - then it STAYS A FEE. We put the property back on the market and start showing it.

I typically don't "hold" apartments if they are vacant unless it's something that works in my favor as well. I don't hold for MONTHS.

The only time that I have and would hold for a longer term is if the property itself isn't "ready" (such as the tenant gave early notice and it's not available for a few months but someone wants it) then yes, I would put a hold fee in place for that. --69.201.xx.xxx




Do You Hold Units? (by Dave [MO]) Posted on: May 26, 2019 10:55 AM
Message:

Same as NE.

--173.216.xxx.xxx




Do You Hold Units? (by Dave [MO]) Posted on: May 26, 2019 10:55 AM
Message:

Same as NE.

--173.216.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Do You Hold Units?
Your Name:
Your State:

Message:
Do You Hold Units?
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: