This is a tough one and I have talked to other property managers as to how they handle similar situations and they handle these instances differently.
Prospect applicant #1 submits an application and arranges a viewing 3 days later. She is driving 3 hours to view the property. I offer to bring a lease for her if she gives me her move-in date and she can give me a check for the move-in monies if she wants the home.....we meet, she has no move-in date, no check and there is no lease signed....later, after deciding on a move-in date, she continues to e-mail and call wanting the lease. I repeatedly advise her I require a check for her move-in monies BEFORE I prepare the lease. I give her until noon on Tuesday to FedEx move-in monies.....
MEANWHILE, a second prospect applicant couple #2 views the property online, submits an application, gives me a move-in date that is a week sooner that #1, FedExs (#11 Denny Hamlin Toyota) me their move in monies and I send out a lease packet. I receive their faxed lease signature page and consider the property leased.
#1 e-mails that she has sent the money; however, it is not received by the deadline. #2 gets the home. I have already put their monies in the bank and will remove sign and lockbox this afternoon.
I did not tell #1 or #2 of each others' interest in the property or that I was holding it for them. I did not ACTIVELY advertise the property by posting on Craigslist; however, the property remained on my website and ACTIVE in our MLS.
It is MY POSITION that the FIRST applicants to followed my procedures and who wanted the property for the MAXIMUM benefit of my client property owner is the ultimate resident.
What say you?
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous