Rental holding fee?

[Laura Hamilton]

My husband and I found very nice prospective tenants who have both great credits and good employments. Problem is prospective tenants are still under their current lease for a month and now are asking if we could start the lease one week before their current lease ends..but not earlier than that. So we would need to wait 3 weeks before getting rent from the unit.

They are very nice and ready for a 1-year lease. If we agree, what is the habit, should we take a holding fee etc?

Thanks,

Laura

[Mike F.]

A holding fee? In addition to the lease starting in 3 weeks?

I basically tell people the property is first come, first serve, so if you want to wait 3 weeks to sign the lease, you can, maybe it will be available, maybe it won't, I'm going to keep showing it. If you want it you can lease it now and the rent is prorated. I'm never desperate, but that's my situation, you have to consider what you want to do. Just  don't even think about just holding it for them without a signed lease, payment and security deposit, that would really be bad to hold it for them and then they don't sign.