Official Notice of Approval – QG
When applicants are approved you’ll need a document to lock them down and make sure they follow through with the move in (or lose their money). Some managers have the tenant execute the lease immediately after approving but that may cause some challenges; especially if they read it and make a fuss over something they don’t like. You need to have some kind of enforceable document that lets the applicant know they are approved and lays out the money issues and critical dates. This document identifies the start date, move-in date, rent, deposits, fees, utility companies and other critical data for their occupancy. It puts their deposit at risk and identifies what happens if they change their mind. If you get the lease signed immediately you probably don’t need this. We prefer to hold the lease back but we get them committed as soon as they are approved. This document does just that.