Is it possible for us as landlords to set our own holding deposit amount? I’d like to reduce mine.
Thanks!
Not if you are using Openrent RentNow. They ask for 1 week, and then discount this from the first months rent, so the tenant doesn’t lose this, unless you go on to not accept them as a tenant, and you have grounds to retain it.
Otherwise, you can do what you wish within the law.
I’m curious as to why you want to reduce the holding deposit?
why do you need to take one at all?