HOLDING DEPOSITS

If the landlord requires a deposit to hold a property, (not rent it until the applicant has been financially approved, as one example) the applicant must receive a receipt and a written statement of any conditions under which the deposit may be retained by the landlord.   If the prospective tenant does move into the rental property, the amount of the deposit must be applied towards the first month’s rent or the tenant’s deposit.  If the tenant does not move in, the landlord may keep the holding deposit as long as doing so is in accordance with the statement of conditions given to the prospective tenant. (Washington State Law) –  (RCW 59.18.253)

About Coldwell Banker Bain Property Management

As residential property managers for Coldwell Banker Bain Property Management Division, we manage single family residences, individual condominium units and small apartment complexes in the greater Puget Sound region. We serve Seattle, Tacoma, Anacortes, Marysville, Bainbridge Island, Lynnwood, Everett, Redmond, Bellevue and many other cities in Washington State. We also offer full service commercial property management.
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