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All Forum Posts by: Brian Maroon

Brian Maroon has started 1 posts and replied 6 times.

Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0

Thank you Jeff.  That is new to me.  You are very helpful.

0 Votes
Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0
Quote from @Jeff Copeland:
Quote from @Brian Maroon:

This is my "first rodeo". Thanks for being the voice of reason.  You make great points.


 It's very common for a tenant to sign a lease and make a deposit several weeks before they move in. 

It's actually somewhat uncommon for someone to sign the lease and then move in the next day. In fact, it can be a red flag: http://www.evicttv.com/quick-t...


0 Votes
Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0

Thanks Troy.

0 Votes
Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0
Quote from @Troy P.:

It would be best to check state laws regarding how deposits and fees can be collected.  If you can charge "admin" or "application" fees, ask them to sign a lease starting April 1st with a security deposit and non-refundable admin fee collected at signing.  They get their spot reserved, and you have some insurance in case they back out last minute.  If they want it held for free while you're not allowed to advertise, I would decline.


0 Votes
Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0

This is my "first rodeo". Thanks for being the voice of reason.  You make great points.

0 Votes
Managing Your Property

Post: Do I hold a rental?

Brian Maroon
Pro Member
Posted
  • Posts 6
  • Votes 0

I am a few weeks from finishing a rental.  A family called about another house that was already spoken for and asked if I any other properties. They came over yesterday to look at the house while I was painting and want to put a security deposit down to hold it and move in April 1st. I haven't even listed it yet.  They live a few blocks away from the house and want to move into mine. She called today and said they want to honor their current rent for March. They are currently renting from a friend. 

Do I hold it for them?

0 Votes