| Comment | It is actually a common practice from letting agents to ask for part of the deposit upfront as what's effectively a fully refundable holding fee. If you ask them if they'd refund the money if the contract falls through, they'd generally say Yes (and if they say No - run away immediately - also make sure you have their Yes in writing somewhere so you can hold it against them if they subsequently refuse to refund). If the money paid upfront is later put into the deposit and is fully refundable if the contract falls through, then it's a legal gray area - but the agents know the tenant is much less likely to accept a few offers for properties at the same time if they have to pay a few hundred to accept an offer, even if that sum is fully refundable if the deal doesn't go through.
Unfortunately it's letting agents we're talking about and they'll use any possible loophole in the law to their advantage... |
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