Hi all - we’ve done a viewing and had several interested parties - two of whom paid a holding deposit, and two who didn’t. We chose one of the ones who didn’t - our preferred one - and asked them to do so. They haven’t so far despite me saying they would need to do so by yesterday. Sets alarm bells ringing to me?
I would like to go back to one of the other prospective parties who had paid a holding deposit and move them forward to referencing. I know there is a time limit on their deposit and I’m within that.
I guess my question is - have I given my first option long enough to pay the holding deposit? I messaged them yesterday and they replied (but didn’t mention the deposit), so I know they’ve seen it…
I hadn’t replied to any of the other parties until I had confirmation from first choice.
Is there anything I should have done differently on my first time? All advice greatly appreciated. Thanks
I tell people specifically not to pay the holding deposit until I say so, as it can be the cause of many an argument. If they go ahead and pay it without me agreeing in advance then I reject them as its a bad start to our relationship! I put words in the advert to this effect. Its a function that Openrent like to have as it sounds good to tenants, but can cause a lot of trouble to landlords when you get totally unsuitable people paying it without telling you, and then you have to go through the process of explaining to them why you are repaying it. A bit like the voicemails. So in your case, you will need to have a reason why you are choosing one tenant over the other, and think a bit about your potential risks and whether or not you are opening yourself up to any discrimination claim, because you are now in a head-to-head situation where you are making a choice, and one party will be disappointed. I had people accusing me of discrimination because I rejected them after they paid the holding deposit.
a holding deposit from 2 people ?. Should have sent it back . You only take one
Thanks for these points - all good advice. Do I need to give a reason for those who I’m not renting to?
Its illegal to take a holding deposit from more than 1 person.
Making even a verbal offer of a tenancy is part of the contracting process and if that applicant now paid the holding deposit, they could try to sue you for breach of contract.
EllBee, this business is full of regulations that you probably dont know about, some of which carry severe penalties. I would suggest that if you want to continue to go it alone you join a landlord association urgently and do some training.
1 Like