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Apartment Hold Time
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5 years 10 months ago #25293
by CJ Wessel
Apartment Hold Time was created by CJ Wessel
Hi - what are your company policies on hold time on a vacant unit till resident moves in? Typically we hold a unit 14 days till a resident moves in in a tight market, sometimes 21 days.
Colin Ferguson
5 years 9 months ago #25446
by Colin Ferguson
Replied by Colin Ferguson on topic Apartment Hold Time
IF, we have a waitlist, and IF the unit is ready, our goal was 7-14 days. The key is working the waitlist the second the notice comes in. I have seen properties where a sense of urgency was missing when that notice came in, and that usually slowed the process down.
Leah Love
5 years 9 months ago #25453
by Leah Love
Replied by Leah Love on topic Apartment Hold Time
We will only hold an apartment for 2 weeks. I think that is industry standard.
5 years 9 months ago #25624
by Vicki Sharp
Replied by Vicki Sharp on topic Apartment Hold Time
GREAT question! I think it would depend on your availability/popularity in each floor plan. If it is an apartment home that is very popular and easy to lease, I would limit the hold time without payment to 7 days. Otherwise, I think 14 days is fine. Wouldn't go over that.
5 years 9 months ago #25624
by Vicki Sharp
Reply to Vicki Sharp
Teresa Swift
5 years 9 months ago #25629
by Teresa Swift
Replied by Teresa Swift on topic Apartment Hold Time
No more than 2 weeks with a holding fee
Jennifer Rysdam
5 years 9 months ago #25630
by Jennifer Rysdam
Replied by Jennifer Rysdam on topic Apartment Hold Time
I will hold for 2 weeks with a non-refundable retainer that is equal to half of the rent. That way if they back out they've paid for the 2 weeks of rent. When they move in it goes towards their deposit.
Lissa Ellegood
5 years 9 months ago #25631
by Lissa Ellegood
Replied by Lissa Ellegood on topic Apartment Hold Time
Our is 14 days if it is ready if it is not 21