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Sophisticated Urban Living

Holding Deposit

   
 


Pay your Holding Deposit online using your credit card, debit card or Paypal account!

Simply click on the button above, enter your holding deposit amount on the secure Paypal site and ta-da.  Fast, easy, convenient.  Once your payment is processed, you will be returned to this site.

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By submitting the holding deposit, you agree to the terms and conditions set forth herein:

  1. Once the Applicant begins tenancy, the Holding Deposit will transfer to a Security Deposit and subject to the Lease Agreement terms.
  2. Owner is free to deposit all funds received herein and shall maintain this Holding Deposit in liquid funds subject to review by Owner or its agents of the Applicant’s rental application.
  3. Applicant shall be entitled to a full refund of the Holding Deposit within 30 days if the Owner determines that:

A.  The Owner does not approve the Applicant’s rental application; and/or

B.  The premises are not available on the agreed date

C.  Upon notification by the Owner to the Applicant that their rental application has been accepted, the Applicant agrees to execute all lease or rental agreement and related documents and pay any balance still due for the first month’s rent and full security deposit.  Applicant understands that once their rental application has been approved, the rental unit is being taken off the rental market and reserved for the Applicant and any or all other potential Applicants will be turned away.

  1. If after acceptance of the Applicant’s rental application, the Applicant fails to comply, the Owner may immediately deduct from the amount received the sum of 1/30th of the Holding Deposit per day (daily rate) for each day the rental unit is vacant from the date the Applicant’ tenancy was to begin through the date the rental unit is rerented to another tenant, but not in any event to exceed 30 days.  In addition, the Owner shall be entitled to retain reasonable administrative fees and advertising expenses associated with remarketing the rental unit.  The Applicant agrees that the daily rate plus the actual incurred administrative expenses and advertising costs are reasonable and liquidated damages since the actual damages would be difficult or impossible to ascertain.
  2. The Owner, within 60 days after the rental unit is rerented, shall return to Applicant, to the Applicant’s address as shown on the rental application, any remaining balance of the Holding Deposit and shall include an itemization of the Owner’s damages. 
  3. If any legal action or proceeding is brought by either party to enforce any part of this agreement, the prevailing party shall recover, in addition to all other relief, reasonable attorney’s fees and costs.  By submitting and accepting the holding deposit, both the Owner and Applicant acknowledge and accept all terms contained herein.