The types of fees that you will have to pay when you move into a new apartment can depend on the market you are in and what the landlord would like to charge. Some of the standard options to consider is the security deposit, the application fee, and even a pet deposit. You should save up for some of those expenses when you are ready to move, as well as for the packing supplies and the professional movers you decide to have as well.
In some cases, you and your landlord may agree to what is known as a holding deposit. This can be called a few different things like an application deposit or a good faith deposit. This is a certain amount that you are going to pay to the landlord to make sure that you are actually serious about the property and will agree to move in. This can be seen as a guarantee for both parties. This works by:
# Guaranteeing the tenant that they will have a space to stay, and that the landlord will stop looking for another tenant to take the space.
# Guarantees the landlord that you are going to move in and that they won’t have to worry about the place being empty any longer.
As the tenant, if you do move into the apartment like you promised, then you will find that the holding deposit is often going to go towards your security deposit or even to the first months’ rent so that you owe less on that first month. It ends up helping you out if you keep your promise.
However, if you end up not being able to move into the apartment for some reason, then the landlord is allowed to keep the money and you will not be able to get it back. This becomes some compensation to the landlord for the time you wasted and helps them to relist the apartment and do some more marketing to find someone else to move into the place since you will no longer be living there.
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