TOPIC: What is everyone’s policy in holding a unit for an applicant that’s already been approved?

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50194

We do 30 days from application date, but we are Tax Credit.
  • Libby Spencer
  • Libby Spencer's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50195

I’ll hold for one week with nonrefundable deposit = to their damage deposit.
  • Anonymous
  • Anonymous's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50196

We're tax credit and require they pay 1/3 of the Sec Dep within 5 days of approval which holds the unit for them for 30 days but is not refundable if they decide to cancel on us.
  • Chris Peterson
  • Chris Peterson's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50197

They have to sign the lease within 48 hours of approval. If they cancel before move in they have to pay reletting fee. If they don’t sign lease unit goes back on market and they lose what they’ve paid
  • Shelly Smith Mccomsey
  • Shelly Smith Mccomsey's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50198

Hi, Sign a lease within 72 hours of approval. Hold up to 2 weeks on stabilized and 30 days on lease up.
  • Britney Ward
  • Britney Ward's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50199

We are on a rent revenue management program that gives prospects 35 different rates to choose from depending on the length of the lease and date of move in. If they want a date further out, it can be done, but they will pay a much higher monthly rate.
  • Janice Marcum Quill
  • Janice Marcum Quill's Avatar

What is everyone’s policy in holding a unit for an applicant that’s already been approved? 3 months 2 weeks ago #50200

Only if they pay a security deposit to hold it pending lease signing
  • Jim Wood
  • Jim Wood's Avatar

Multifamily Discussions

More Topics »