What is the typical holding deposit amount? : ezLandlordForms

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What is the typical holding deposit amount?

O

Ossah C

started a topic over 9 years ago

Hello, I will be completing a leased contract with a qualified tenant. The move-in date will be one and a half-month from today. What is the typical holding deposit amount (absolute or percentage of rent amount) a landlord can request in case the prospective tenant backs out of the signed leased contract prior to the move-in? It's my understanding that the prospect would forfeit this deposit if this situation. Thanks

1 Comment

D

Dawn A

said over 9 years ago

I don't do a deposit, I do a holding fee. I state on the fee that if the tenant doesn't take occupancy by the move in date, then the holding fee is forfeit.

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