Holding fee questions

[Silvia B.]

For those of you that accept a holding fee, what is the maximum length of time that you will hold a property for rent? 

[Jon Holdman]

@Josh L. for me, signing the lease, collecting the first months rent plus the full deposit in cash and handing over the keys all happens at the same time.  Once we have a lease, its theirs.

I'll hold for a maximum of a week to 10 days.  I require a hold deposit equal to the security deposit.  Its non refundable.  If they sign the lease as agreed, it become their deposit.  If not, I keep the hold deposit and go onto the next person who wants a unit.

If someone applies and is approved, but wants a longer hold than that, I given them the right of first refusal if I find someone else who is willing to move in sooner.