Our agency will not progress an application until the holding deposit has been paid and an application form is completed and returned by the applicant(s). To avoid unnecessary delays, it’s important that you return your application form(s) within 48 hours.
The holding deposit is the equivalent of one week’s rent, which once paid, is offset against the total balance due.
A tenancy cannot be completed until the agreed first month’s rent and deposit are paid in full. On occasions, the Landlord may request a guarantor in order to offer a tenancy subject to referencing. The holding deposit is non-refundable should following referencing, it is discovered that key material facts have been omitted or prove false which then leads to the Landlord declining your application.
By paying the holding deposit, the property you have reserved will be taken off the market and all future viewings cancelled, and it is therefore deemed fair that the tenant will receive no refund should they later decide not to take up the tenancy or fail to move in on the agreed proposed check in date.
If the Landlord decides against proceeding with the tenancy, the tenant will receive a full refund of all monies paid.