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  • FIRST POST
    • whippetman
    • By whippetman 2nd Oct 17, 6:18 PM
    • 71Posts
    • 19Thanks
    whippetman
    Holding deposit or security drposit
    • #1
    • 2nd Oct 17, 6:18 PM
    Holding deposit or security drposit 2nd Oct 17 at 6:18 PM
    Hi friends, wondered if anyone had any ideas.

    I was renting my spare rooms, someone came to see them and wanted them. They gave me a holding deposit of 1 weeks rent. I gave them a receipt.

    They now don't want the rooms and I have missed other renting opportunities.

    Now here's my problem, I wrote the receipt wrong and put security deposit not holding deposit.

    I explained what was what and that a security deposit of 4 weeks rent would need to be paid when they move in, so I believe they understood what was meant.

    They are insisting I now give them the deposit back because of what I wrote on the receipt.

    Do I need to repay it?

    Matt
Page 1
    • G_M
    • By G_M 2nd Oct 17, 7:22 PM
    • 42,269 Posts
    • 49,096 Thanks
    G_M
    • #2
    • 2nd Oct 17, 7:22 PM
    • #2
    • 2nd Oct 17, 7:22 PM
    If it's a security deposit you need to repay it.
    If it's a holding deposit, you don't.

    If you refuse to repay it, and the applicant takes you to a Small Claims Court, which do you think the judge will think it was?
    • whippetman
    • By whippetman 3rd Oct 17, 12:23 AM
    • 71 Posts
    • 19 Thanks
    whippetman
    • #3
    • 3rd Oct 17, 12:23 AM
    • #3
    • 3rd Oct 17, 12:23 AM
    Thank you, you have confirmed exactly what I was thinking.

    I think a judge would see that it was clearly a holding deposit.

    I think I will repay the deposit anyway, its not worth the hassle. I have to be more careful when I write my receipts in future.
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