What is a contingency lease? A leasing technique by which a tenant signs a lease agreement called a contingency lease prior to approval in the application process. The tenant is required to pay the application fee, rental deposit and sign the lease resulting in the rental unit then becoming theirs unless they are denied via the application or screening process. There is typically no recourse for the tenant other than to seek legal representation if they change their mind or clearly did not understand what they were signing.
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