Holding Deposit
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Is the holding deposit deducted from the tenancy deposit?
Read more: Is the holding deposit deducted from the tenancy deposit?No – In accordance with the terms of the Reservation Agreement the amount of the Holding Deposit will be used towards the Initial Rent due during the permitted pre-tenancy period (between when the tenancy is entered into, and the day before the first day of the tenancy). Still not answered your question? We love questions […]
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How long can I reserve a property for?
Read more: How long can I reserve a property for?The maximum time between making a reservation (completing a Reservation Agreement and paying the Holding Deposit) and the start of any proposed tenancy is 30 days. The commencement date of any proposed tenancy would be subject to the agreement of the landlord. Still not answered your question? We love questions so fire it at us […]
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How much is the Holding Deposit?
Read more: How much is the Holding Deposit?The Holding Deposit is equivalent to one weeks’ rent and is calculated by multiplying the rent per calendar month (PCM) by 12 and dividing the result by 52. The amount of the Holding Deposit for a property is shown on the listing for the property under ‘Tenant Will Need’. Still not answered your question? We […]
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If there are issues with my references will I get the holding deposit refunded?
Read more: If there are issues with my references will I get the holding deposit refunded?If an applicant withdraws their application or has unsatisfactory references, the Holding Deposit will be refunded less any reasonable costs as defined in the Terms and Conditions of the Reservation Agreement available here Still not answered your question? We love questions so fire it at us using the contact details here Please rate this article […]
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I have accepted an offer to rent my property, what happens next?
Read more: I have accepted an offer to rent my property, what happens next?The offeror is invited to reserve the property by signing a Reservation Agreement and paying a Holding Deposit. You will be notified only if, and when, each of these events occurs. Until both of these events occurs, we will continue to carry out viewings of the property and will pass on any new offers we […]
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If I cancel before the commencement date of the tenancy what costs will I incur?
Read more: If I cancel before the commencement date of the tenancy what costs will I incur?The Holding Deposit will be refunded less any reasonable costs, the sum total of which may equate to or exceed the amount of the Holding Deposit. The reasonable costs includes losses for potential rent. Losses for potential rent calculated on a daily basis as follows: Monthly Rent (£) multiplied by 12 (months) divided by 365 […]
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My offer has been accepted what is the next step?
Read more: My offer has been accepted what is the next step?Reserve property – complete Reservation Agreement and pay Holding Deposit via this link here Still not answered your question? We love questions so fire it at us using the contact details here Please rate this article so we know how well it answered your question…
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We have made an offer to rent a property, do we now need to fill out the Reservation Agreement
Read more: We have made an offer to rent a property, do we now need to fill out the Reservation AgreementNo – not yet. Once received, your offer is sent to the landlord for consideration. Immediately we get a response from the landlord we will contact you again. If the landlord accepts your offer the next step is to reserve the property by completing a Reservation Agreement and paying the Holding Deposit. Still not answered […]
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Will the holding deposit form the tenancy deposit and be returned at the end of the tenancy?
Read more: Will the holding deposit form the tenancy deposit and be returned at the end of the tenancy?No – The Holding Deposit will be used towards Initial Rent provided: The Applicant does not withdraw their application The Applicant has satisfactory references A tenancy is granted A tenancy is entered into The Terms and Conditions of the Holding Deposit can be found in the Reservation Agreement here The Tenancy Deposit will be returned […]
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Does the holding deposit cover the first months rent?
Read more: Does the holding deposit cover the first months rent?No – The Holding Deposit will be used towards the Initial Rent in respect of the tenancy. Still not answered your question? We love questions so fire it at us using the contact details here Please rate this article so we know how well it answered your question…