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Updated about 7 years ago,
When deposit to hold is not allowed in my County
Dear All,
I was reading Brandon's book on managing rental properties, thinking request a deposit to hold after you approve a tenant is a good idea, only to find out it is not allowed in my county. So what should I do after I approve a tenant? Do I still show my unit to other people and process other applicants until that approved tenant signs a lease? I don't think anyone would want to sign a lease right after they are approved, like within 24 hours. How long should I wait? What if they later changed their mind and don't want to sign a lease anymore? Or what if I keep showing my unit and processing applicant and found another qualified tenant? Not really sure what to do here.
Would really appreciate your advice! Thanks a ton!