Tenant Frequently Asked Questions

The Holding deposit is NOT the Security Deposit.  We will collect the Security Deposit from you at the time of Move In.  It is in consideration of taking the property off the market and holding it for the applicant.  Upon approval, the entire Good Faith/Holding will be applied toward your first month's rent and/or any other amounts due at the time the lease becomes effective.

The applicant agrees to sign the Lease and take possession of the property.  The applicant will be in default if they do not execute Professional Property Services' standard lease agreement or refuse to occupy the proprty on the agreed upon date.

In the event of default, Applicant acknowledges that Professional Property Services will keep the Holding Deposit as liquidated damages, which are compensation for taking 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.