 Nonrefundable holding fee (by Lea [ID]) Oct 6, 2021 8:11 PM
 Nonrefundable holding fee (by Jason [VA]) Oct 7, 2021 6:49 AM
Nonrefundable holding fee (by plenty [MO]) Oct 7, 2021 7:34 AM
Nonrefundable holding fee (by plenty [MO]) Oct 7, 2021 7:34 AM
Nonrefundable holding fee (by Lea [ID]) Oct 7, 2021 8:27 AM
Nonrefundable holding fee (by S i d [MO]) Oct 7, 2021 8:48 AM
Nonrefundable holding fee (by plenty [MO]) Oct 7, 2021 10:39 AM
Nonrefundable holding fee (by Lana [IN]) Oct 7, 2021 7:39 PM
Nonrefundable holding fee (by Lea [ID]) Posted on: Oct 6, 2021 8:11 PM
Message:
Is it legal to charge a nonrefundable holding fee
--74.81.xx.xx |
Nonrefundable holding fee (by Jason [VA]) Posted on: Oct 7, 2021 6:49 AM
Message:
I do it all the time, but I’m not familiar with your state’s laws.
Just make sure to clearly specify the terms and have them sign the agreement. --40.136.xx.xxx |
Nonrefundable holding fee (by plenty [MO]) Posted on: Oct 7, 2021 7:34 AM
Message:
I hold it as, if they break the agreement is not refundable. If I break the agreement it's refundable. --172.58.xxx.xxx |
Nonrefundable holding fee (by plenty [MO]) Posted on: Oct 7, 2021 7:34 AM
Message:
I hold it as, if they break the agreement is not refundable. If I break the agreement it's refundable. --172.58.xxx.xxx |
Nonrefundable holding fee (by Lea [ID]) Posted on: Oct 7, 2021 8:27 AM
Message:
Thank you for your replies. How would you get a signature from someone who is wanting to rent from out of state? Is a text agreement to pay the fee and have the apartment held for them a good practice? --74.81.xx.xx |
Nonrefundable holding fee (by S i d [MO]) Posted on: Oct 7, 2021 8:48 AM
Message:
Option contracts used non-refundable fees all the time. A Holding Agreement for a rental is nothing more than a short term option contract. "Person X has the right to rent building Z from Land Lord ABC until the date of Y for $XYZ dollars. In exchange for this right, Person X agrees to pay the sum of $ZZZ dollars, aka, the Holding Fee."
Signatures can be done with a paid e-signature service like DocuSign or PDF Filler. Or you can send them the document and have them print it, sigh it, take a picture and send it back to you. For those folks who don't have printers, there is the public library, FedEx/Kinkos, a friend/family member with a printer, or usually their work place can print a document. Or just send them the text for your agreement, have them write it out by hand, sign it, take a picture and text it back to you.
If they have access to none of those methods or if they refuse to spend the time doing what it takes to print/write out a single page document, then I doubt that you truly want to do business with them.
--108.230.xxx.xx |
Nonrefundable holding fee (by plenty [MO]) Posted on: Oct 7, 2021 10:39 AM
Message:
What Sid wrote above. With all this time a postage stamp envelope would work. The important thing is to remember not to stop showing the unit or accepting applications until the written agreement is in writing, signed and funded. Until then you continue to show the unit. It may or may not be available when that paper comes back as someone may jump ahead of the line. Just saying don't hold on a verbal. May never happen. --172.58.xxx.xx |
Nonrefundable holding fee (by Lana [IN]) Posted on: Oct 7, 2021 7:39 PM
Message:
My agreement is also a holding fee, but I take charges off holding fee if they don't move in for all the days I hold unit open for them at a daily charge, and a re-advertising fee. That uses up the holding fee/deposit pretty fast and I rarely have any to return. --216.23.xxx.xx |
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