BiggerPockets

Just curious as to how long you guys allow a soon to be tenant to wait before moving in once they've passed the background check?

Here's my situation: I showed my rental today to a couple who told me they wouldn't be able to move until Dec.1st when their lease was up. I told them rent would payment would have to begin in no less than 2 weeks from the time the background check was approved even if they're weren't ready to move in. Also, they'd have to provided the security deposit within 48 hours in order for me to hold the property. At what I'm asking for rent, a 2 week loss adds up $350.

How do you guys handle this? And do you have a hard and fast rule regarding the amount of time you'll hold the property until a tenant is ready? Do you decide case-by-case?

Like J Scott says, it depends on the situation. I'll put up with less of a delay on an easy-to-rent property than a hard-to-rent one. Five weeks is a long time. If its a tougher rental, and a bad time of year I might do it.

I use a "agreement to hold" in cases like this. They have to provide the security deposit up front. There's a deadline on the agreement to sign a lease, 12/1 in this case. If they sign, the money becomes the deposit. If not, I keep it, and it makes up for the lost rent.

I've had people view a property when they were two months away from moving in. I tell them to call back when they're closer rather than take an application.

I leave my signs and ads up until a new lease is signed. If I get more calls after taking the hold, I explain the situation and take their name and number.