How long do you hold a property for an approved tenant?

[Jordan L.]

Hi all, I’m curious how soon after approving an applicant and taking a security deposit you require the tenant to start paying rent? My most recent project sat vacant for 5 weeks after my PM approved an applicant who was unable to move in right away. The minimum time they allow for move-in after taking a security deposit is 2 weeks, which is already a long enough vacancy for me. Where do you guys draw the line and what should I tell my PM to ensure this doesn’t happen again?