Security Deposit & Property Hold Agreement - SEC8

Security Deposit & Property Hold Agreement

Section 8 Residents
Terms
1.      Upon application approval, ½ of security deposit is due within 3 days to secure the property and begin onboarding process with Regional Housing & Parks Realty. If at least ½ of security deposit is not paid within 3 days, approval will be rescinded and application withdrawn.

2.      Remainder of security deposit is due no later than the move-in date or start date of the lease. If remainder of security deposit is not collected, a lease may not be generated, or lease may be voided and suspended by landlord at which initial security deposit will be forfeited to the Landlord.

3.      If landlord and Regional Housing are unable to come to a contract agreement on lease terms including but not limited to rental rate, inspection items, etc., tenant will be refunded the initial ½ of security deposit.

4.      If tenant decides to withdraw for any reason unless given approval by landlord, tenant forfeits the initial ½ of security deposit to the landlord.
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