Upon the verbal or written approval of the Applicant’s tenancy, if tenant will not be taking occupancy immediately, a Deposit to Hold Agreement will be executed and signed by all parties and a non-refundable holding fee shall be required within 24 hours, hereinafter referred to as “Deposit to Hold” in the amount equal to one month’s rent to hold the property until a mutually agreed upon move-in date.
Applicant understands that no rental will be held for more than 14 days. The Deposit to Hold removes the property from public offering and holds the home exclusively for the Applicant until all other requirements have been met. After all requirements have been met and a lease for the property completed, the Deposit to Hold will transfer to the security deposit to be held throughout the tenant’s entire tenancy.
If the Applicant fails to provide the Deposit to Hold within 24 hours of approval, the Applicant may be disqualified and the home will be offered to the next qualified applicant. After approval and before occupancy will be granted, Applicant must supply all the required move-in funds, including the security deposit, first month’s rent, and any other additional deposits and fees, all tenant paid utilities must be transferred into Applicant’s name, and a lease must be executed and signed by all parties.
If for any reason, the Applicant fails to complete all move-in requirements the landlord will return the property to public offering and the entire Deposit to Hold will be forfeited to the Landlord for expenses including, but not limited to, lost rent, holding costs, advertising costs, and marketing costs.