Here's a template I use:
Property Address: _______________________________________________________________
Approximate Move-In Date: __________________________
Holding Fee: $_____________________
(Holding period expires 30 days from the date the holding fee is deposited by landlord.)
Monthly Rent: $_________________________
Applicant Name(s): _______________________________________________
Applicant understands and agrees that the Holding Fee will be returned if applicant is not approved as a tenant. Application fees, however, are non-refundable. If Applicant is approved for occupancy, the applicant agrees to sign Landlord’s Lease and take possession of the property. If the Applicant is approved for occupancy but fails to sign a Lease or take possession of the property within 30 days from the date the holding fee is deposited by landlord, $500 of the Holding Fee shall be retained by Landlord as liquidated damages.
Applicant acknowledges that the Holding Fee is NOT a security deposit. Upon signing a Lease, then $1000 of the Holding Fee will be applied toward the security deposit specified in the Lease. In the event Applicant defaults under the terms of this Application, Applicant acknowledges that Landlord shall keep $500 of the Holding Fee as liquidated damages which are compensation for holding the property off the market. Applicant agrees that the amount of lost rent in holding the property off the market is unknown and that this provision is intended as a good faith estimate of Landlord’s damages in the event of Applicant’s default.
Properties are taken off the market and reserved for approved applicants on a first-come, first served basis according to the order in which Holding Fee and signed Holding Fee Agreement are received by xxxxxxx. Both this form and the holding fee must be received to reserve a property. In the rare cases when a holding fee and forms are received for more than one tenant simultaneously or nearly so (in general, within the same business day), xxxxxx will reserve the property for the strongest applicant based on credit score, income, employment, criminal background, and rental history.
_____________________________________________ ______________
Applicant’ s Signature Date
_____________________________________________ ______________
Applicant’ s Signature Date
_____________________________________________ ______________
Representative Signature Date
