New tenant| Mid Month| Prorate rent?

[Luke H.]

Team,
I was just curious what you do in this case.  I plan to show my property this weekend. Hope to have a tenant ready to move in.

Since it is mid/late in the month what are options/ideas/best practices for this?
Do not 'hold' the house unless they give a non-refundable holding deposit?
Prorate the rent for what's left of month?
Require pro-rated rent and next month's rent, plus security deposit?

Thanks for your help!

[Nicole A.]

If a tenant moves in in the middle of the month, I have always asked for security deposit and FULL first month rent up front for them to be able to sign the lease and get the keys. Then the following month would be prorated. However, some landlords will prorate right up front, so it's your call!

Either order you do it, though, they must pay you full security deposit to be able to sign the lease and get the keys. Without it, do not allow any lease signing/key assigning to happen.

Also, if a good applicant can't move in immediately, I will basically tell them that they are first in line but I must continue to show the unit and if another qualified applicant can move in sooner, they I must give it to that person. I do not take deposit or anything. Sometimes upon hearing this, they can manage to move in sooner than they first thought. ;-)