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Holding deposit for rental
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moneybrook
Posts: 2 Newbie
Hi all. As a result of losing our private tenants (lesson fully learned) we had to pull out of the property we were renting which resulted in the agent keeping our holding deposit of £750. We had got as far as references, vetting etc and were due to sign contracts. Is this correct - can they keep the full amount? My understanding was that the holding deposit paid for the vetting etc and then the remainder went towards the first month's rent when we moved in. We now have a new agent who's advised us to challenge. Can anyone shine a light in the legalities of this please? Thanks as always.
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Comments
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We can't see what you've signed - what does it say?0
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Legalities are all about mitigating losses, so that's what they need to do. If they find another tenant right away then they work out their losses, (advertising, etc) and send the rest if any to you.
Only by taking them to court and having a judge make them prove their losses can help you.
If it takes time then all that £750 will be eaten up by rent you would have been paying.0
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