HOLDING DEPOSIT
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019
Holding deposit: Equal to one week’s rent.
Each tenant must pay a holding deposit for their chosen property. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing). This will be reimbursed once the Tenancy Agreement and associated documents are signed and completed in full and returned to the office (Office 8, Unit 5, 7 Marshwood Close, Canterbury, CT1 1DX)
HOLDING DEPOSIT EXPLAINED DISCLAIMER
Thank you for applying to rent a property from one of our Landlords. Before your application can be fully considered, you will need to pay to us a holding deposit, as a maximum equivalent to one weeks’ rent for the property you are interested in. This document explains what happens to that holding deposit and the circumstances in which the deposit will / will not be refunded. It is important that you know your legal rights and accordingly you should feel free to seek independent legal advice before signing this or indeed any other document which we might put before you.
Once we have your holding deposit, current legislation stipulates that the necessary paperwork should be completed within 15 days or such longer period as might be agreed.
If at any time during that extended period you decide not to proceed with the tenancy, then your holding deposit will be retained by our firm. By the same token, if during that period you unreasonably delay in responding to any reasonable request made by our firm, or if it turns out that you have provided us with false or misleading information as part of your tenancy application or if you fail any of the checks which the Landlord is required to undertake under the Immigration Act 2014, then again your holding deposit will not be returned. It will be retained by this firm and your Landlord.
However, if the Landlord decides not to offer you a tenancy for reasons unconnected with the above then your deposit will be refunded within 7 days. Should you be offered and you accept a tenancy with our Landlord, then your holding deposit will be credited to the first months’ rent due under that tenancy.
Where, for whatever reason, your holding deposit is neither refunded nor credited against any rental liability, you will be provided with written reasons for your holding deposit not being repaid within 7 days.
Upon signing the tenancy agreement you will be required to present ID to satisfy the right to rent checks, before being allowed to take up occupancy of the property.
You will not be asked to pay any fees or charges in connection with your application for a tenancy. However, if your application is successful under our standard assured shorthold tenancy agreement, you will be required to pay certain permitted fees for any breach of that tenancy agreement in line with the Tenant Fees Act 2019.
In consideration of us processing your tenant application, you agree to pay any permitted fees that become due to us on request. You agree to receiving all relevant documents via email. You agree to these holding deposit terms and you agree give us permission to carry out all the relevant identity, credit and reference checks we may require to access your suitability at a tenant, including permission to contact your referees and guarantors.
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF.
CLIENT MONEY PROTECTION (CMP) PROVIDED BY: CMP
INDEPENDENT REDRESS PROVIDED BY: TPO “THE PROPERTY OMBUDSMAN” www.tpos.co.uk
