| Comment | Interesting reading the answers here - as someone who recently moved and prior to this viewed (and was offered) several rental properties, I was asked to pay a holding deposit at least twice - including by big-name estate agents (e.g. Slater Hogg & Howison). It would’ve been deducted from my deposit at the start of the tenancy.
EDIT: just googled this and according to Citizens Advice, it is legal as long as it’s refunded/deducted from your deposit (but holding it if he decided not to take up the tenancy would be illegal):
“A private landlord or letting agency might ask for a deposit before you sign a tenancy agreement. It's sometimes called 'key money' or a 'holding deposit'. If the landlord doesn't refund this deposit at the start of the tenancy or if you decide not to take the tenancy it becomes an illegal fee, also known as a premium. If the landlord suggests turning it into a tenancy deposit then you might find that acceptable.” |
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