Read the document carefully to make sure it meets your specific needs. Bear in mind that this document is for use in England and Wales only.
Remember that if you have any questions you can easily Ask a lawyer.
Initial holding deposit form checklist
Make it Legal™ Checklist
Here are a few important steps to take to finish your document
The parties (ie the landlord(s) or their agent, and the tenant/contract holder(s)) must all sign the Initial Holding Deposit Form. If an agent is acting for the landlord, the agent will sign the document on behalf of the landlord. Where the agent or the landlord is a company, partnership or LLP, a representative must sign on the business’ behalf.
Sign online
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You can select to sign online using RocketSign.
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Each party will receive an email invite to sign.
Sign in print
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Print a copy for each party.
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Every party must sign and date each copy.
Keep a copy of the Initial Holding Deposit Form for your records. A copy of the Initial Holding Deposit Form will also be automatically stored in your Rocket Lawyer account ‘Dashboard’.
The tenant(s)/contract holder(s) should keep their Initial Holding Deposit Form.
A Tenancy agreement should generally be signed within 15 days of the landlord or agent receiving the holding deposit unless a different timeframe has been agreed. This period is known as ‘the deadline for agreement’.
If a tenancy agreement is not signed after a holding deposit was taken, landlords should return to deposit to the tenant(s)/contract holder(s) within 7 days of the landlord deciding not to let the property to the tenant(s)/contract holder(s), or the deadline for agreement passing.
In certain circumstances, landlords may be able to keep a holding deposit (in part or in full). These include if a tenant/contract holder:
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provides false or misleading information which the landlord can reasonably consider when deciding to let a property
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fails a right to rent check
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withdraws from a property
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fails to take all reasonable steps to enter into a tenancy agreement and the landlord or agent takes all reasonable steps to do so
Where a holding deposit is not repaid in full, the reasons must be set out in writing within 7 days of the landlord deciding not to let the property to the tenant(s)/contract holder(s) or the deadline for agreement passing.
For more information, read Holding deposits.
