Holding fee questions

[Silvia B.]

For those of you that accept a holding fee, what is the maximum length of time that you will hold a property for rent? 

[Silvia B.]

in my area most renters must give a 30 day notice to present landlord and cannot afford rent for both places at the same time. If the applicant passes all credit and background checks, etc and I choose to offer them my rental, I am "considering " accepting a holding fee of approx $500 (I'll prorate per day) for no longer than 2 weeks. My rent is $1250/month and security deposit is $800 . After signing lease and paying all money due at signing, then the holding fee will go towards the first months rent. If they decide not to sign lease then I  will retain a daily prorated portion to compensate for money lost plus may $50 for inconvenience.

If I do this, I will definitely have them sign a Receit and Holding Deposit Agreement.