Rental Holding Deposit Agreement
Congratulations on your first step to finding a new home! In order to take your new home off the market, first fill out the following Holding Deposit Agreement.
Part I – Terms and Conditions
(Tenant) agrees to pay myHomeSpot.com, (agent for landlord), a holding deposit of (Holding Deposit) for the rental unit located at (Property). With this payment, the below signed parties agree to the following:
1. Landlord shall, until (Reserve Date) give first priority for rental of Property to Tenant.
2. Tenant’s expected move-in date is (Move Date). The expected lease term is (Lease Term).
3. If Tenant decides to rent Property s/he must sign a Lease Agreement to rent the Property, take possession of the property, and pay any prorated or first month’s rent by the date specified in section 1 above.
4. If Tenant signs the Lease Agreement by the date specified in section 1 above, the holding deposit shall be used as full or partial payment of a security deposit of (Security Deposit) pursuant to the terms of the Lease Agreement. Tenant agrees that the rental rate shall be (Rental Rate).
5. If Tenant does not sign the Lease Agreement by the date specified in section 1 above, s/he relinquishes the holding deposit to Landlord as liquidated damages and payment for holding Property for Tenant.
6. If the landlord decides not to rent to the tenant for any reason, s/he will return the full amount of the deposit to the prospective tenant no later than five days after the landlord’s decision not to rent to the prospective tenant, or the date specified in section 1 above, whichever occurs first.
7. Landlord will decide whether to rent to Tenant based solely on whether Tenant fulfills the requisite credit and background verifications. Should Tenant fail to meet these qualifications, and Landlord elects not to rent to Tenant as a result thereof, Landlord will refund the Holding Deposit to Tenant.
8. Tenant will occupy Property along with the following additional occupants: (Additional Occupants)
9. Pets (Will/Will Not) be housed in the Property. In consideration of this, Tenant agrees to pay a pet (Fee/Deposit) of (Pet Fee/Deposit Amount). # of pets: (# of Pets) Type of pets: (Type of Pets)
10. Landlord will be responsible for the following utilities: (Utilities)
11. Tenant, or Tenant’s agent, has viewed the property first hand and has either, found the property to be in acceptable move-in condition, or has found the following items that need to be addressed before move-in occurs: (Work)
PLEASE NOTE THAT ANY ALTERATIONS/UPGRADES OF A COSMETIC NATURE (PAINTING, CARPET REPLACEMENT, ETC.) DESIRED BY TENANT SHOULD BE LISTED ABOVE. FAILURE TO LIST ANY COSMETIC UPGRADES/ALTERATIONS, INDICATES TENANT’S ACCEPTANCE OF THE CONDITION OF THE UNIT AS-IS, AND ACKOWLEDGEMENT THAT ANY FUTURE COSMETIC UPGRADES/ALTERATIONS, IF REQUESTED, SHALL BE MADE AT THE SOLE DISCRETION OF THE LANDLORD ONLY.
IN ORDER FOR LANDLORD TO GUARANTEE THAT ANY NECESSARY WORK BE COMPLETED PRIOR TO TENANT MOVE-IN, THIS AGREEMENT MUST BE EXECUTED AND RETURNED TO LANDLORD NO LATER THAN 10 BUSINESS DAYS PRIOR TO THE LEASE COMMENCEMENT DATE. ANY WORK NOT REPORTED ON THIS AGREEMENT, OR REPORTED ON THIS AGREEMENT WITHIN 10 BUSINESS DAYS OF THE LEASE COMMENCEMENT DATE WILL BE TREATED AS A MAINTENANCE REQUEST AND, WHILE LANDLORD WILL ATTEMPT TO COMPLETE IT PRIOR TO MOVE-IN, NO GUARANTEE CAN BE MADE AS TO ITS COMPLETION DATE. TENANT HEREBY ACKNOWLEDGES THAT SOME OR ALL WORK REPORTED WITHIN 10 BUSINESS DAYS OF THE LEASE COMMENCEMENT DATE MIGHT BE COMPLETED AFTER MOVE-IN.