Holding Deposits:
The holding deposit is one week rent which will be offset against the first month’s rent.
The Holding Deposit is not refundable if you:
Provide false or misleading information;
Fail a right to rent check;
Withdraw from the property; or
Fail to take all reasonable steps to enter into a tenancy agreement.
The Holding Deposit is refundable if:
If Landlord withdraws from the proposed agreement.
The Tenant Fees Ban 2019 stipulates that you must enter in to a tenancy agreement within 14 days of you paying the holding deposit. You can however mutually agree to extend this timeframe.
