Holding deposit issue

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  • Holding deposit issue

    Hi,

    I took a holding deposit from an applicant for my property this week.All his credit checks & references were in order and we were ready to get the AST signed when he said he only wanted the flat for 6-9 months.

    I did say originally it woud be a 12 month contract. He looks like he would be a good tenant but I really don't want to go through looking for a tenant again in 6 months and I want a 12 month contract. I stopped advertising and have already turned down other prospective tenants.

    Not sure what to do. If i decide i don't want a 6 month contract can I keep his holding deposit for having to start the process all over and for losing other good tenants?

  • #2
    I believe you could probably keep a portion for the credit checks, but that would be it...you as of yet have no contract.
    Any posts by myself are my opinion ONLY. They should never be taken as correct or factual without confirmation from a legal professional. All information is given without prejudice or liability.

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