Hello all. Very inexperienced so hope someone can advise. Advertised flat for rent, someone paid holding deposit but can’t actually see the flat until after the ‘agreement deadline’ has passed as there is currently a tenant in place I have gone ahead with referencing but it seems I can only extend the agreement deadline for 7 days which isn’t quite enough. Should I go ahead and issue the agreement by accepting the tenant and then he just doesn’t sign until he sees it? Thank you
How can you be sure the existing tenant will move out? Or that the new tenant will actually like it when he sees it for real?
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The existing tenant is a friend who is moving abroad so that isn’t a concern and although the prospective tenant is very keen, I agree he might not like it. So I’m just not sure how to keep the whole thing ticking over until he can see it.
Personally, I would’ve refunded the holding deposit, kept the property on the market until someone had viewed and decided they wanted to proceed, and I wanted to proceed with them!
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Thank you. I agree that’s how I would normally proceed but I have been inundated with viewing requests from inappropriate tenants and this person, knows the area, needs this location, is a verified tenant with exceptional credit/references so it made sense to go with him. It’s just the timing that is causing me an issue.
@Nathalie3 if existing tenant is a friend why can t prospective tenant view now? Even if not a friend you just have to give 24h notice legally tho it’s better to arrange for a time that suits current tenant too so they can be there if they want to be.
Gaining access for future tenant viewings is perfectly reasonable just like access for tradesmen
(Sorry if there’s something obvious I’ve missed)
Or just return holding deposit pause ad and tell the prospective tenant when you later unpause it so they can then ask for a viewing pay the holding deposit again and proceed from there…
And just ignore all the unsuitable viewing applications (perhaps use screening questions and be clearer in listing about what sort of tenant you are looking for)
Ps you should still have given current tenant notice if they’ve not given notice already. In case their plans to move abroad fall through - sorry if ridiculously obv
Good luck
Karl11 makes good sense just repay it.
Personally i dont mess about with holding deposits, they are more trouble than they are worth.
More importantly you say you are inexperienced, consider using an agent or at least join a group like eastern landlords assn or similar. One small mistake today can result in heavy fines or being unable to regain possession of your property, often for minor infractions. I wouldnt recommend going into it today tbh as a business but yes you do need to get on the property ladder
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I am reading a lot of problems with prospective applicants placing holding deposits with OR when they havent seen or given the LL time to even see if the tenant is suitable. Personally I have many pre viewing and after viewing questions which filter out the cheats and liars before accepting a deposit which I stress I do all this myself. I think this system that OR has is flawed. Do it yourself KEEP CONTROL of your investment.
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It’s not a problem if someone places a holding deposit without the landlord giving the ok. The landlord can just reject it and proceed at their own pace with viewings.
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