Holding Fees & Reservations

Found a property you love?

Reserve it with a Holding Fee

A Holding Fee is a deposit that allows you to place a down payment on the property you are interested in, to reserve it while you complete the application process.


Once a holding fee is paid, the property will be temporarily reserved for you, while you work on getting your application completed. No one else will be able to apply for the property during this time.

IMPORTANT!

Before submitting a holding fee, make sure you are confident this is the property you want to rent.

Holding fees are typically non-refundable.

Getting Started

Step 1: Contact Us

If you have not already toured the property, you'll need to do that first. From the listing page of the property you want to hold, click the 'Contact Us' button and fill out the form. In the Message field, let us know you want to schedule a showing, and the property manager will get back to you as soon as possible.

Step 2: View

View the property in person with a Hammer Properties NW representative. If multiple tenants will be applying together, the majority of that group must attend the showing. Viewing the property with a Hammer Properties NW representative is a requirement before you will be eligible to place a holding fee.

Step 3: Request

Click the 'Contact Us' button from the page of the property you want to hold, and fill out the form. In the message field, let us know that you want to place a hold on this property.

Please note: Filling out the 'Contact Us' form is the only way to initiate the holding fee process! We cannot place a hold based on a phone call, email, or in-person request.

Step 4: Apply

Fill out an application for the property by finding it on our Search Rentals page and clicking the 'Apply Now' button.

Note: Current Hammer Properties tenants DO NOT need to apply! Contact your property manager to proceed.

How much does it cost?

25% of one month's rent

A holding fee is typically equal to 25% of one month's rent for the specified property. The exact amount can be found on the listing page for that property on our website.


If you complete the application process and are approved, the holding fee will be credited towards your security deposit.

What Happens Next?

Step 1: Pay the Holding Fee

Within 24 Hours

The Property Manager will send a payment link to the person who requested the Hold. Once that link has been sent, you have 24 hours to pay the amount in full. If payment isn't received within this timeframe, the property will not be held.

Step 2: Submit All Applications

Within 7 Days

After the holding fee is paid in full, all applicants (including co-signers, if needed) must submit their applications within 7 days. If we do not receive applications from all parties within 7 days, the property will no longer be held and the fee will be forfeit.


Not sure if you'll need a co-signer? Click to view our Applicant Criteria.

APPLICANT CRITERIA

Step 3: Lease Agreement Created

As soon as possible

Once all applications are received, we will begin processing them. Upon approval of all applications, we will prepare the lease and send it out to all parties via email for e-signature.

Step 4: Sign the Lease

Within 3 Business Days

Once the lease agreement has been emailed, all applicants must sign within 3 business days. Co-signers may request to review the lease before their applicant signs by contacting the property manager. This must be done in a timely manner, and the lease must still be signed by all parties within 3 business days. If the lease is not fully signed within this timeframe, the property will no longer be held and the holding fee will be forfeit.

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