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Holding Deposit
Foxynox
Posts: 3 Newbie
Hello,
Andrews Letting asks for a Holding Deposit of £300 for a couple wanting to rent a property. The main cost is to use PropertyRisks.com to do a tenant risk validation and credit check. The website states:
Why do I have to pay a holding deposit?
In order for the Landlord to remove the property whilst the referencing process takes place, a holding deposit must be paid. This is non-refundable should you decide not to proceed with the let.
This does not indicate what happens if we do decide to proceed. I have been told that is not refundable and is just the "fee" regardless. This seems quite expensive just to credit check 2 people. What does everyone else think?
Thank you,
Brian
Andrews Letting asks for a Holding Deposit of £300 for a couple wanting to rent a property. The main cost is to use PropertyRisks.com to do a tenant risk validation and credit check. The website states:
Why do I have to pay a holding deposit?
In order for the Landlord to remove the property whilst the referencing process takes place, a holding deposit must be paid. This is non-refundable should you decide not to proceed with the let.
This does not indicate what happens if we do decide to proceed. I have been told that is not refundable and is just the "fee" regardless. This seems quite expensive just to credit check 2 people. What does everyone else think?
Thank you,
Brian
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