Online property reservation service provider for reserving properties for lease

A system for implementing a reservation of a rental property between a renter of the rental property and a property manager of the property through communication with a renter computer and a property manager computer, comprising:

• a processor;
• and
• a computer readable storage medium including computer code executed by the processor to perform operations, the operations comprising:
• storing in a computer implemented property reservation service database information on rental properties each having at least one unit to lease at the property;
• storing in the property reservation service database a hold amount, a cancellation period and an authorization hold period defined for an authorization hold, wherein the authorization hold period is greater than the cancellation period and runs following the cancellation period;
• and
• receiving from the renter computer a reservation request for a reserved property comprising one of the properties at which the renter seeks to lease a unit at the reserved property and information on a renter financial account, wherein the reservation request occurs before the lease of the property is signed;
• and
• initiating at least one online electronic transaction to place an authorization hold of the hold amount on the renter financial account for the reserved property in response to the reservation request, wherein the authorization hold maintains the hold amount as unavailable in the renter financial account.

A computer implemented method for implementing a reservation of a rental property between a renter of the rental property and a property manager of the property through communication with a renter computer and a property manager computer, comprising:

• storing in a computer implemented property reservation service database information on rental properties each having at least one unit to lease at the property;
• storing in the property reservation service database a hold amount, a cancellation period and an authorization hold period defined for an authorization hold, wherein the authorization hold period is greater than the cancellation period and runs following the cancellation period;
• and
• receiving from the renter computer a reservation request for a reserved property comprising one of the properties at which the renter seeks to lease a unit at the reserved property and information on a renter financial account, wherein the reservation request occurs before the lease of the property is signed;
• and
• initiating at least one online electronic transaction to place an authorization hold of the hold amount on the renter financial account for the reserved property in response to the reservation request, wherein the authorization hold maintains the hold amount as unavailable in the renter financial account.