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Updated over 6 years ago,

User Stats

535
Posts
253
Votes
Kimberly T.
  • Investor
  • Colorado Springs CO
253
Votes |
535
Posts

How much do you collect as a holding deposit/fee, and what do you call it?

Kimberly T.
  • Investor
  • Colorado Springs CO
Posted

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.

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