How Does a Pre-Move In Hold Fee Work?
When a long hold is approved, there is financial risk to the owner, as the property sits off the market. Because of that, hold fees apply.
Hold Fees Explained
General Expectations
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Hold fees are always non-refundable
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They are typically equivalent to the daily cost of rent
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The fee is based on the number of days the property is held and unavailable to others
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If you do not move forward, the fee is retained by the owner
For holds approaching 60 days, the required fee may exceed the standard "one-month" structure, reflecting the longer vacancy period.
We discuss the issue of longer than usual holds (30+ days) see this article.
If Something Changes
If your plans shift after a hold is approved:
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The hold fee is not refunded
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The property will be returned to the active market
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Any future application will be processed as a new submission
This is standard across the industry to account for the downtime and missed opportunities created by removing a listing for an extended period.