Would you hold an "A" property off market for a month?
Would you hold an "A" property off market for a month?
This is the situation: Business person relocating from Chicago to Portland Oregon. Wants to view property (if still available) on January 7, pay the application fee and a Holding Deposit at that time with the intention of moving in February 5 if her application is approved. Rent to begin in February, prorated.
Dilemma: Never held a property for that long of time with only a Holding Deposit (refundable). Has anyone had experience charging a Holding Fee (non-refundable) at a per day rate for each day off market? If so, what would be a reasonable rate? This is a 2BR/3BA Townhouse that rents for $1850. Went on market on Nov 20. Only one serious inquiry as of today. Portland rental market is hot and vacancy rates are at a historical low, but we are in the holiday doldrums.
What do you think? What would you do?