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Updated over 6 years ago,
How much do you collect as a holding deposit/fee, and what do you call it?
Curious what other landlords do for a holding deposit/fee so that they will take their ad off the market, before the new tenant moves in. Do you require it to equal one month's rent? Half a month's rent? Some other amount entirely?
Also, what do you call it? Is it a "non-refundable fee" that gets credited toward rent? Or toward the security deposit? Do you just call it a "deposit"? Do you call it "prepaid rent"? How do you make clear that it's non-refundable (or is only refunded if you can re-rent it)?
I'm sure some of this depends on what's legal in your state.