A holding deposit will be required to reserve the property and remove it from our availability list. The holding deposit will be deducted from the first month’s rent or deposit due.
Should the tenant withdraw from the proposed letting, through no fault of the landlord or the agent, all or a proportion of the 'Holding Deposit', will be retained in order to cover any reasonable costs (which will be outlined in full).
None of the Holding Deposit will be retained should the Tenant's withdrawal be due to a breach of the proposed letting agreement by the landlord or managing agent.
The holding deposit shows good faith on the part of a prospective tenant enabling the landlord to take further action in the confident knowledge that the applicant is serious and fully committed to the property:
Any advertising for the letting will be marked as let agreed. Other applicants will be informed that the property has been let - subject to references and is no longer available.
We will prepare a letting agreement, take up references and carry out credit checks.
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Property Marketing Director
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Property & Deposit Manager