A Deposit-to-Hold is money down to hold an available home of your choice. Providing that there is not another application pending, you may put a Deposit-to-Hold on a home of interest that you are serious about selecting. It holds your position as first place applicant, as you might not finish the application process before others start applying on the same home, and possibly finish before you. The Deposit-to-Hold ensures that you are first in line for the approval process.
What should the amount be?
The Deposit-to-Hold amount should equal the security deposit required on that particular home.
How it Works
When Deposit-to-Hold money is received, we will remove the listing immediately, therefore accepting no other applicant’s rental applications, and thus keeping you first in line. If you are approved your Deposit-to-Hold money will be used as your security deposit payment.
Is it refundable?
If you are not approved, your Deposit-to-Hold money will be returned to you in full.
However, should you decide not to rent after you are approved, you will forfeit the Deposit-to-Hold money. DeMars, LLC will have to begin the entire process over, along with marketing and advertising days, and will have potentially lost other applicants or opportunity to rent.
Again, if you are approved, the full amount will go towards your security deposit, no money lost.
Placing a Deposit-to-Hold
After you have visited the home, and you have decided you would like to put down a Deposit-to-Hold, Contact Us to make sure there are no other applicants ahead of you already. If not, fill out the Contact Us form and select “Deposit-to-Hold” for the payment down, then we will immediately remove the listing after payment has been received.
What happens next?
All applicants involved will have as much time as needed to finish the required application process and gather all supporting documentation, with peace of mind having guaranteed first chance for approval, with no rush. After all applications are complete in your group, the approval process begins. You will receive an email with your approval status.
If approved, you will have 24 hours to perform. See the Approval Process for details.
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