# Renting Homes (Fees, Discrimination etc.) (Wales) Act 2019, Paragraph 4


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.

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Source: https://www.legislation.gov.uk/anaw/2019/2/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/renting-homes-fees-discrimination-etc-wales-act-2019/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.