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  • Legal FAQs

    Holding Fee amounts

    Hi,

    I normally take a 'Holding Fee' from a prospective tenant to ensure their commitment to their proposed tenancy. They get this back when they move in. This has been fine until now. My latest chap though has passed checks etc but then pulled out two weeks later, on moving in day. He's obviously lost his fee but I now have another unexpected month of void plus re-advertising fees etc.

    Is there a consensus on what is a 'reasonable' amount for holding? Could I reasonably have the Deposit amount as a Holding Fee IE one months rent?

    What do you think? Or is there even a legal stance on this?

    Thanks.

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    All changes on June 1st when tenant fee ban comes in, limit on both the amount taken, how you use it and how long you can hold it.

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    Thanks Jeremy.

    You don't have a link as to the details of this by any chance?

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    Oh boy!

    More legislation against us. They're really trying to make our business harder and less and less financially viable aren't they?

    :-(

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