Hello
Is there a reason that on a 2 occasions a property has said let agreed but then gone back up for rent?
Thanks
I believe when a prospective tenant pays a holding deposit the listing automatically changes to “Let Agreed” pending reference checks. If the prospective tenant fails reference checks and the LL doesn’t wish to proceed with that tenant, the listing goes back on the market. I wouldn’t have thought that this wasn’t uncommon.
Aah thanks Chris for your reply.It makes sense.
Legally, a landlord can only take one holding deposit at a time so I imagine that is why Open rent have insured this happens automatically.
One or more tenants can request to place a holding deposit - this has no impact on the advert.
If a landlord accepts the holding deposit, then all other requests are rejected and the advert is marked as under offer.
If a landlord rejects a holding deposit, nothing happens because the advert remains active.
So yes, often a landlord will accept a holding deposit and proceed to referencing. If the tenant withdraws, fails referencing, etc then the advert will automatically come back onto the market. So it’s not unusual for this to happen to an advert.
Thanks for the clarification.
Speaking of holding deposit, when is it NOT returned? I mean I know if tenants withdraw it’s not returned, how about failed referencing? And is there any other cases for not returning?
You ask questions with regards to their affordability and financial history or even better to use an application form so their answers to your questions are documented. When you put them through referencing and they fail because they have lied or forgot to mention a ccj from a few years back the landlord is entitled to keep the holding deposit as they would have lost the referencing fee and their time.
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I see. That makes sense. Thank you Chris.
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