- A refundable holding deposit (to reserve a property) capped at no more than one week’s rent.
The holding deposit will be returned to the tenant either in payment back to the tenant, or put towards the first rental payment, or the security deposit.
We will hold the holding deposit for 15 days unless an alternative ‘deadline’ date is agreed in writing. After the deadline, the holding deposit will be repaid within 7 days.
However, there a few exceptions to the return:
- The tenant withdraws
- The tenant doesn’t take all reasonable steps to enter the tenancy
- The tenant fails a right to rent (immigration) check
- The tenant provides misleading information which materially affects suitability to rent the property
- Payments to change the tenancy when requested by the tenant, including requesting pets £50.00
- Payments associated with early termination of the tenancy, when requested by the tenant (and if agreed by the landlord).
This will not exceed the loss incurred by the landlord (usually the loss in rent and/or the costs of re-advertising or referencing.
- Replacement of a lost key no more than £30
- Replacement for lost security device no more than £120
- If a locksmith is required £60
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11 Riverside Studios
Newcastle Upon Tyne
Tyne and Wear