A holding agreement is a contract between a landlord and tenant that outlines the terms and conditions for holding a property pending a lease agreement. Much of the time, the agreement entails that the tenant pay a sum of money to the landlord in exchange for the landlord holding the property for a pre-determined amount of time. This scenario is ideal for tenants who need time to get their affairs in order before moving. It can also allow landlords time to prepare the property or necessary documents for lease.
The purpose of the holding agreement is to allow landlords and tenant a legal avenue to reserve a property pending signing a lease agreement.
Lawyers with backgrounds working on holding agreements work with clients to help. Do you need help with a holding agreement?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate holding agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.