Short Term Renters

[Jordan Hamm]

Hey guys. I've got an applicant who's interested in a short term rental. They were about to buy but had to back out because their house was accidentally flooded by the previous owner. Anyway, they're willing to pay 3 months up front (on a 6 month lease) but have openly admitted they will continue looking to buy. My question is, if they find something before the 3 months is up would they forfeit that money? Or would I have to refund it? Any other tips from anyone who's dealt with anything like this?

Some additional info: my existing tenants just moved out a couple months before their lease was up. So I, and they understand they're responsible for the rent until I can find a suitable tenant. Would it make more sense to accept the new application instead of denying them and hoping my current tenants continue paying?

Thanks guys!