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Updated over 3 years ago on . Most recent reply
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Lease Addendum for a tenant who wants to hold
Hi BP Fam!
I have a question regarding a prospective tenant with a move in date of June 25th, 2021. I currently have my Los Angeles unit listed on various websites and have a few people looking at the place. The prospective tenant understands compensating for the hold. I'm a little confused on how I should list the following breakdown in the lease agreement and addendum in order to hold it for her, especially because we are potentially losing out on more than half of a full month's rent and I believe we are being very fair with the below breakdown of cost. We also don't want to list anything as a "holding deposit" because the money will not be refunded.
Her move in date is June 25th, 2021. Security deposit is $1700. Rent is $1700. If we prorated her June rent, it would be $340 for her June 25th move in date. However, the landlord would only receive $2040 up front, if that's the case. The landlord wants to charge $3740 for security deposit, month of July 2021 up front and a $340 (which is her prorated rent amount for June). Instead of calling this a holding deposit, we want to charge July up front since it is the following week any way. Can someone assist me on how I should write this in a CA leasing agreement and addendum? Is this legal? Any feedback is much appreciated!
Thanks in advance!
Kasey
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@Adam Martin To be completely transparent, she is a very qualified prospective tenant and my listing has been up for a month and have only received unqualified tenant applications, so I'm losing money due to vacancy. This week I've been receiving more leads - thank goodness - so I have hope I will find a more suitable and qualified tenant who will move in at an earlier date. June 1st would be ideal. She definitely has the funds and is understanding but writing this up in an agreement and addendum gets tricky and I don't want to run into any legal issues. However, I think you're correct and will write "that they need to provide Julys rent plus prorated Junes rent as well as a non refundable deposit at the time of signing that will transfer to deposit upon tenancy" in the addendum. I'm probably just being paranoid but Google and CA's arbitrary laws don't help much. Thanks for the feedback!