96 hour holding deposit

Landlord Discussion
1

I’m aware of the 96 hr rule regarding the holding deposit:

“If you don’t respond in 96 hours, the holding deposit will be returned to the tenants in full and your advert taken offline.”

A tenant was keen to place a deposit before viewing and I agreed I would refund in the event of cancellation following unsatisfactory viewing. The viewing isn’t for a few days time.
If the viewing is fine, I would want to proceed with referencing and this would then take me over the 96 hour. What would happen then?

Thanks!

2

A holding deposit BEFORE viewing. ? I never do that.

3 Likes
3

Give the money back.
You haven’t even done a viewing
You are opening Pandora’s box before your tenancy starts
It may be entrapment

2 Likes
4

It’s not a good idea to accept a holding deposit before a viewing

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5

I never accept a deposit before a viewing and a meeting of the applicant has taken place. One did place deposit but it was returned to her as I had not agreed this. I see no point in makung or takung a deposit before viewings or meetings.

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