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  • Property-a-holics

    New problem since June 1st 2019

    take the Holding Fee which does indeed guarantee them the property

    No, it doesn't. The landlord can still reject them for any reason. They just have to refund the holding deposit unless certain conditions are met (e.g. tenant gave incorrect information which was found out in referencing).

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    Perhaps not clear, in my scenario that you have agreed the tenancy and then take the holding fee then the property is theirs. If you take a holding fee prior to referencing then all marketing must cease until that application has been told that they are not getting the property and the fee is being returned, yes there are exceptions where the fee can be retained but is it really worth it? You then start marketing the property again, as an agent we work for the landlord who would rightly want the best possible tenant in the most suitable time-frame so to stop marketing for a few days while referencing and decisions are made are not realistically in the landlords best interest.

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