Can more than one applicant at a time put forward a holding deposit? We were enquiry number 12 but are very keen so paid a holding deposit, so far we think we are the only ones to do this as it now shows under offer. How do we know?
ask the landlord thru openrent
I think legally once you’ve paid your holding deposit the property is held for you and only you. Otherwise it beats the purpose of a holding deposit entirely!
That’s what I would have thought as with rentals through agents. I know this property has had lots of enquiries but think we are the only ones to put a holding deposit
Did the landlord ask you to put down a deposit?
If so, then they should hold the property for you and let you have it as long as you pass referencing etc.
If not then, if I were the landlord, I would just be refunding you the money because I want to choose who I let my property to, not be forced into it by someone unilaterally paying a deposit.
Thinking back to my law studies (many years ago!), I don’t think it can form a contract because I don’t think there was an ‘invitation to treat’ (ie an invitation from the landlord for you to pay the deposit), which is required for a legal contract.
I recently advertised a house for rent and had about 20 people interested. I would have been seriously p’ed off if a random applicant had put a holding deposit down to try and force me to rent it to them - especially as I had promised first refusal to the first people who contacted me.
I called about an apartment that garnered a lot of interest but i applied and was contacted an hour later to put down a holding deposit when the landlord was happy with the application! Once the holding deposit is paid the property is yours until references and checks are complete. Provided that you’re references are good and you sign all documentation on time (and your landlord wants you to have the property) it should pretty much be yours.
Also as far as i’m aware its illegal to have 2 holding deposits on a property!