I’d like your opinion. I saw a house that I like here and placed my holding deposit. I offered to pay some cash upfront (4months) and the rest in double rent payments which could be written into the contract. I did this after finding out my ex husband destroyed my credit rating. The landlord came back with asking for more money up front, not an issue, and also a guarantor. Couldn’t get a guarantor as I have no family and friends have their own issues so couldn’t do it. I notified her promptly and made my original offer as the money is sitting in the bank. Since then the landlord is not responding to me. I have sent a message to the team here on OpenRent as I placed the deposit and don’t want to lose it. The landlord is putting unreasonable additional demands on me renting the property. I think that the angle here is to keep my deposit. What do you think?
The holding deposit can be kept for two weeks.
How long have they had the monies and did they specify a guarantor at the outset or was this a later demand?
Hi. No it wasn’t specified and I was very upfront about how I knew my credit score would look, which is why I offered up front monies. I was going to pay the deposit then four months rent,then two months every month until the lease was paid. The deposit has been held since the 22nd of June.
Have you given a deposit or a holding deposit
They are two different things
If it was a holding deposit he/ she has two weeks to refund if they do not give the property
If it was a deposit it is secured with an appropriate body within 30 days
Unless you signed a waiver to say that the holding deposit could be held until a specified date, then they are already in breach of the Tenant Fees Act, which allows 15 days. If youve given up on this property just ask for your money back. If they refuse, tell them they’re breaking the law and you’re reporting them to Trading Standards.
You should be aware that your circumstances present a financial risk to a landlord and most won’t take you. Those that will may make what you feel are unreasonable demands.
Hi Patricia,
I’m really sorry to hear of your predicament, outside of your control - which could now affect you for up to 6 years!
As an aside, if you haven’t done so already, you can place a “Notice of Correction” with each of the 3 Credit Reference Agencies [Experian, Equifax, TransUnion] simply to explain your circumstances and the reason for your rating being due to your Ex’s actions on Joint accounts, whilst you were “jointly & severally liable”. They could then consider this whilst assessing your risk going forward on sole accounts; it could well influence their attitude?
Money returned. On top of it all, one of the tenant’s kids has Covid and had it when we were there, I believe. Open rent got my money back, and she cannot rent the house until the child is well.
I suspect this just a holding deposit so they can return it to you withiut issue. If you did it through openrent it wont have gone over to the landlord until the AST is signed and 1st months rent has been paid and even then it can take up to 2 weeks. If you have dealt direct with the landlord he/she has no excuse not to send it back to you immediately. I would always recommend doing everything through Openrent. It may be slower but safer.