Placing a Holding Fee

Holding Fees

What is a Holding Fee?

  • a Holding fee is a deposit that allows applicants to place a small downpayment on the property they're interested in to reserve it while they complete the application process.
  • Once a holding fee is placed, applicants and co-signers have 14 days to complete the required application paperwork.
  • Holding fees are equal to 25% of one months rent of the specified unit that is being applied for.
  • There can only be one Holding Fee placed on a rental at a time.
  • If you complete the process and are approved, the holding fee will be credited towards the security deposit.



*Please Note: A Holding fee does NOT guarantee that you have secured the property. All tenants and co-signers must have all paperwork submitted and be approved by the property manager. Only after this is completed will the lease be sent for signing.*

How & When to Place your Holding Fee:

  • In order to place a Holding fee, the majority of your group must view the unit with a Hammer Properties representative, and have your applications submitted (Seeing the unit by anyone other than a Hammer Properties representative will not count. Please do NOT disturb current tenants.)
  • Once you have seen the unit and applied, the Property Manager will send a link to pay the Holding Fee.
  •  Once this is paid and you've signed the holding fee agreement, the unit will be "held" for you for 14 days while the other tenants and cosigners are getting their applications submitted.
  • If you do not complete the application and leasing process within the 14-day time frame, you forfeit the holding fee and lose your place in line for that property. (If you have a valid reason for needing more time, please communicate with the Property Manager.)
  • Your application can still be used to rent other HPNW properties.
  • We will allow you to move your holding fee to another unit one time.
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