When you submit a Holding Deposit, you are committing to signing the lease and renting that property. The Holding Deposit is automatically released 7 days after you submit your application or immediately if you do not pass the background check or the property is unavailable for any reason. If you simply choose to cancel, your holding deposit will be captured as a charge and used as a cancellation penalty.
You understand that neither the Holding Deposit, nor Application, confirms reservation of the property. The property is only reserved once the lease is signed by all parties and the security deposit, first month’s rent and any applicable fees have been paid.
You agree to sign the lease within 2 days of receipt to avoid cancellation of the lease and capture of your holding deposit.
CHANGES: Any changes to the lease document after it has been sent for signature or signed will incur a $50 administrative fee - this includes adding/changing guests, updating contact information, adding parking or pets to the lease or changing dates. Please confirm all lease details.
CANCELLATION & EXTENSIONS: Sometimes we are able to grant extensions, but this is not guaranteed. Once the lease is signed by all parties, cancellations and early terminations are at the sole discretion of the host and are generally not possible. The 2nd Address service fee already paid on any rent is non-refundable in the event that the host approves an early termination or any amount of refund (excluding the security deposit). If the host approves an early termination of a lease with more than 30 days left in the original term, a minimum cancellation penalty equivalent to 12%-15% of 1 month’s rent will apply.. All parties must execute the lease and make all necessary payments before a property will be available for move in. A Host will refuse entry into an apartment if either have not been completed.
The first month’s rent and any applicable security deposit or one time fees are due upon lease signing. Subsequent monthly rent payments are due by the 21st of the preceding month and a 6% late fee will be applied to overdue payments.
All payments made by the guest for a lease are non-refundable, excluding refundable security deposits.
You give consent to 2nd Address to make investigation of your consumer reports and criminal history information which may be in any state or local files (where permitted by law), including those maintained by both public and private organization, and all public records for the purpose of confirming the information contained on your application.