A $300 holding fee is required to reserve your home.  Upon approval of this application, the holding fee shall be retained as part of the first months’ rent.u003cbru003eOnce approved, if applicant cancels application prior to the execution of the lease, all holding fees received will be forfeited as liquidated damages in payment for the agent’s time and effort in processing the application, including making necessary investigation of my credit, character, and reputation.u003cbru003eIf this application is not approved by the owner or agent, the holding fee will be refunded, the applicant hereby waiving any claim for damages by reason of non-acceptance.