A.D. CANTELMO REALTY/TONY CANTELMO
BROKER
TONY CANTELMO

A.D. Cantelmo Property Management Our Business is Property Management in Orange County California

 

 

 

Should a Landlord get a Holding Deposit  

 

 

 

When you are renting a Property, many potential Tenants are considered, What do you do, if the most qualified Tenant can’t move in right away. In this situation you may be willing to wait, but what guarantee do you have if you take your property off the market for a period of time, that the potential Tenant will actually move in.

 

The mistake many Landlords make is that to hold a property, they take a security deposit. This is all well and good, but if a Potential Tenant does not follow through and decides to not move into your property, that security deposit will most likely be returned in full to the Tenant. What you need to do, is ask the Tenant for what is called a Holding Deposit.

 

A holding deposit is a deposit to hold the rental unit for a stated period of time until the tenant pays the first month's rent and any security deposit. During this period, the landlord agrees not to rent the unit to anyone else. If the tenant changes his or her mind about moving in, the landlord may keep at least some of the holding deposit.

 

If the Tenant does change their mind, the Landlord can take in consideration, how much rent the landlord lost due to the time that the property was not rented for and also the Landlord can take in consideration added expense such as extra advertising that was incurred due to the property being on hold for a period of time. Money can be deducted from the holding deposit and just like a security deposit, a Landlord must account for the funds that are withheld from the deposit.

 

The Terms of the Holding deposit should be clearly defined in the agreement between the Landlord and the Tenant.                       

 

A.D. Cantelmo Property Management Specializes in Property Management on Orange County Ca.

Tenant/ Property Service
 
Marketing Property
We market your property on all the major Real Estate websites, including Zillow, Trulia, Realtor.com, and the Multiple Listing Service

Showing your Property
We make sure your Property is shown to all Qualified, interested parties. We never allow Unchaperoned shwings

Screening Tenants
We have a detailed tenant screening process. We run Credit, Criminal and Eviction checks. we check rental history, and use our more then 10 years of Property Management experience to place the Best Tenant possible in your Property

Open 7 Days a week

Contact Tony
714-313-7413
If you have hours that do not coincide with normal business hours, No Problem.


 

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What my clients are saying  

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

"10 out of 10 I am so Happy Since I left my old company and I joined AD Cantelmo Property Co I am stress free I live in a different state and this company watches my house and always Mr Tony Cantelmo is on top of things I really want to thank you for what you do for me and I would really Recomend this Company to any and every one Thank You again. Shawn" ------------------- "I need to trust the people I work with and I trust Tony. He stays on tops of things, communicates well, and gets things done. He not only gets things done but he gets things done the right way. Jim"

 

~ Shawn

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