Prospective tenant wants to move in March 1, how do I handle that.

[Chris K.]

So I have a decent applicant for my property but she wants to move in on March 1. That's guaranteeing myself another month of having to pay the mortgage so I want be careful with how I handle this. I don't want to tell her it's hers then come March she tells me she found another place. Ive heard of people taking a "Holding fee" or something that will turn into the security deposit if she moves in and if she bails on me I get to keep the fee. Is this the proper way to handle this situation or are there other suggestions??

[William Bannister]

Here is the problem in addition to giving free rent and having your apt being tied up for free...empty units attract unsavory types and I see it as a problem. Maybe not this time but the more you have empty buildings the greater chance of break in and losing copper or appliances and theft. Best advice get them in great shape quickly and rent them out fast. The quality of the product is the key they rent fast when they are nice especially in this market.