Holding Deposit Agreement Form

These terms and conditions apply to your application to rent the Property through Jesmond Property Shop and constitute a legally binding agreement.

By signing this Agreement, you agree to comply with these terms and conditions.

If you are unsure of your obligations under this Agreement, you are advised to obtain independent legal advice before signing.

1. Purpose of the Holding Deposit

A Holding Deposit has been paid in connection with the Property.

The purpose of the Holding Deposit is to reserve the Property whilst the Landlord completes:

• Referencing;
• Right to Rent checks;
• Pre-tenancy enquiries;
• Preparation of the proposed tenancy agreement and any guarantor documentation.

The Property will remain reserved subject to the Landlord receiving satisfactory replies to referencing checks, Right to Rent checks and other pre-tenancy enquiries.

The Applicant acknowledges that a copy of the proposed tenancy agreement was made available before payment of the Holding Deposit.

2. INFORMATION PROVIDED BEFORE PAYMENT

The Applicant acknowledges that, prior to payment of the Holding Deposit, they were informed of:

1. The Property address;
2. The proposed rent;
3. The Deadline for Agreement;
4. The circumstances in which the Holding Deposit may be retained;
5. The circumstances in which the Holding Deposit may be refunded;
6. The requirement to complete the Landlord's pre-tenancy process.

3. NO OBLIGATION TO GRANT A TENANCY

Nothing in this Agreement requires or suggests that a tenancy for the Property, or any other premises, will be granted to the Applicant.

The Applicant acknowledges that:

4. NO OBLIGATION TO GRANT A TENANCY

Where the Landlord and the Applicant enter into a tenancy agreement relating to the Property, it is agreed that the Holding Deposit will be credited towards the Applicant's deposit.

5. REFUND OF THE HOLDING DEPOSIT

Subject to Clauses 8(a) and 8(b), the Holding Deposit shall be refunded where the Landlord decides not to enter into a tenancy agreement before the Deadline for Agreement.

Subject to Clauses 8(a), 8(b), 8(c) and 8(d), the Holding Deposit shall be refunded where the Landlord and the Applicant fail to enter into a tenancy agreement relating to the Property before the Deadline for Agreement.

Any refund shall be made within the period required by applicable legislation.

6. Use of Information

The Applicant's details may be used for:

1. Preparation of tenancy-related documents;
2. Tenant referencing;
3. Right to Rent checks;
4. Guarantor referencing and documentation;
5. Administration of the proposed tenancy.

The Applicant's details may be shared with:

1. Other proposed occupiers of the Property;
2. Proposed guarantors;
3. Referencing providers.

7. Right to Rent

The Applicant agrees to provide any information and documentation reasonably required to complete Right to Rent checks.

Failure to satisfy Right to Rent requirements may affect the proposed tenancy and the Holding Deposit may be dealt with in accordance with Clause 8(a).

8. Circumstances Where the Holding Deposit Will Not Be Refunded

(a) Right to Rent Failure
The Applicant does not have a Right to Rent under Part 3 of the Immigration Act 2014 and the Landlord or Agent did not know, and could not reasonably have been expected to know this before the Holding Deposit was accepted.

(b) False or Misleading Information
The Applicant provides false or misleading information and the Landlord or Agent is reasonably entitled to take into account the Applicant's actions in providing false or misleading information, or the difference between the false and correct information, when deciding whether to grant a tenancy.

(c) Applicant Withdrawal
The Applicant notifies the Landlord or Agent before the Deadline for Agreement that they do not wish to enter into a tenancy agreement.

(d) Failure to Take Reasonable Steps
The Landlord or Agent takes all reasonable steps to enter into a tenancy agreement before the Deadline for Agreement, but the Applicant fails to take all reasonable steps to enter into the tenancy agreement before that date.

9. Notice of Retention

Where the Landlord intends to retain the Holding Deposit, the Landlord or Agent shall provide written notice to the Applicant within the period required by applicable legislation.

The notice shall set out:

1. The reason for retaining the Holding Deposit;
2. The facts relied upon in support of that decision.

10. Electronic Documentation

The Applicant acknowledges that: