Question on Deposit To Hold for Empty Unit

[Dee Bral]

I'm new to Bigger Pockets and the Forums and to being a landlord as this is my first post. I have an empty, furnished apartment in Virginia, close to the beach, that is available for rent immediately. We have only had the property since the summer so we've tried to have at least 2 or 3 month leases thus far. I have somone who wants to rent the unit as of Feb. 1st, meanwhile, I have other interested applicants that want to rent the unit sooner, within a week, and who need it longer. I was going to collect a Deposit to Hold for 14 days for the person who doesn't need the unit until Feb. 1st, but then charge a pro-rated rent for the 10 days beyond that 14-day period. I've used the Deposit to Hold language I saw in one of Brandon Turner's books. 

How have others handled this? Is this appropriate?

Thanks in advance for any advice. The language I used is below. 

Deposit to Hold

After approval, if tenant will not be taking occupancy within 24 hours, a non-refundable Deposit to Hold in the amount equal to one month’s rent will be required within 24 hours to hold the property until a mutually agreed upon move-in date. The maximum amount of time a rental will be held is 14 days. After all move-in 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 Prospective Tenant fails to provide the Deposit to Hold within 24 hours of approval, the home will be offered to the next qualified applicant. Should the Applicant elect to pay the Deposit to Hold with their application (prior to processing), the Deposit to Hold will be refunded in full within 14 days if they fail to qualify.

Move-in Requirements

After approval and before occupancy will be granted, Prospective Tenant 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 Prospective Tenant’s name except for furnished units, and a lease must be executed and signed by all parties.

How have others handled this? Is this appropriate? 

Thanks in advance for any advice.