Paragraph 4 I1
A holding deposit is an amount which—
(a)
before the grant of a standard occupation contract, is paid to a landlord or a letting agent;
(b)
is paid for the purpose of reserving a right of first refusal in relation to the granting of the contract, subject to suitability checks to be carried out as to the prospective contract-holder and agreement between the parties to enter into the contract;
(c)
does not exceed an amount equivalent to one week's rent under the contract.
Annotations
Commencement
- I1
Sch. 1 para. 4 in force at 1.9.2019 by S.I. 2019/1150, art. 2(c)
Notes on the whole Act
Textual amendments
- F1
Title substituted (1.6.2026) by Renters’ Rights Act 2025 (c. 26), ss. 45(2), 145(3) (with s. 138); W.S.I. 2026/6, art. 2(c)