Common use of Holding Fee Clause in Contracts

Holding Fee. If Tenant has paid a Holding Fee, it will be applied to your first month’s rent on or about the date your lease goes into effect. The Holding Fee is equivalent to one-month's rent. As part of your Holding Fee, you may also have been required to pay a security deposit, which is also equivalent to one month’s rent. The balance of your move-in money/deposits are required prior to your lease being executed. Your Holding Fee will be applied to your lease in the following order: 1) first month's rent, 2) security deposit, 3) water/sewage deposit, and 4) appliance deposit.