Bind the Prospective Tenant to a Written Agreement to Rent
the Premises, to Avoid Non-serious Tenants from Backing
Out of Renting the Premises.

Once the landlord has pre-qualified the prospective tenant, and that tenant has agreed to rent the premises, the landlord binds the prospect with this written agreement and payment of any required funds (i.e., holding deposit, pre-paid rent, etc.). Protects both landlord and tenant from the tenant walking away from the rental that has now been taken off the market and binds the landlord into renting the premises to the prospect (once ALL landlordd pre-conditons have been satisfied). Avoid hassles with prospects who change their minds or get cold feet about renting the property.

Copyright 2011. Landlord.com