The holding DEPOSIT is payable to Aspire Sales Lettings & Property Management when you make an offer to rent a property. This is confirmation of commitment to proceed if the landlord accepts the offer. Should terms be agreed for a tenancy, subject to contract and satisfactory references, these monies will be retained toward the first months rent.
Is it refundable?
The holding deposit is refundable if terms (in principle) for a tenancy are not agreed and will be refunded without delay or deduction. However, should you withdraw for any reason or should your references prove to be unsatisfactory, these monies will be retained towards costs incurred by Aspire Lettings & Property Management in proceeding with the proposed tenancy. Payment of these monies does not constitute the granting of a tenancy.
This is equivalent to five weeks rent. Some landlords that have accepted the inclusion of a pet may also request a pet rent. The balance is due in cleared funds prior to the start of the tenancy.
Permitted Payment – Loss of keys, security device
Permitted Payment – Early Termination/Surrender
Permitted Payment – Change of Sharer
Permitted Payment – Variation or Novation of Contract