OpenRent Community

When is holding deposit returned?

Hi just wondered when I will receive my holding deposit back? I have recently moved into a privately rented property but housing benefit pay the monthly rent. I know the landlord has received a month in advance of rent and a deposit of equivalent to a month’s rent also, can anybody help me? Thank you!

Surrounding any deposit there is much regulation on this now.
If you are referring to the holding deposit being the temporary amount of money that one would give to the landlord to hold the property for them until all paperwork has been completed then there is a maximum of 14 days holding of this money.
However the money has to be returned in full before the commencement of the tenancy otherwise the landlord would of fallen short of regulation.

If you need any proper information more tangible and precise check out the website called shelter.

If you are however talking about the normal deposit that is retained and secured throughout your tenancy then this deposit requires a certificate to have been issued to you proving how much when and where.

Upon your tenancy you should’ve been served with a lot of documents, when you go to the website shelter you’ll be able to find an exact list of what should’ve been served and when I would go through it and make sure you have everything in place.

You also have the option to check out citizens advice bureau online, however I believe shelter to be much better

The holding deposit of 1 wks rent was given to Openrent , the landlord said he hadn’t received it.

You would need to email openrent asking them to clarify their policy on this as I would never allow any agent to hold my holding deposit so i dont know their rules etc

In my experience (and according to the OpenRent website) the holding rent is usually deducted from the first month’s rent. ie: if you’ve paid £200 holding deposit and the monthly rent is £700 you will only have to pay another £500 for the first month’s rent. The landlord gets £700 and probably doesn’t realise that it includes the holding deposit paid upfront

Hi Abeda, @Adrian12’s answer is correct.

The holding deposit is held by us (so that it is safe and we can return it to you if the landlord turns out not to genuinely letting the property, etc.).

When the tenancy goes ahead, the money is simply put towards your move-in costs: the first month’s rent and the tenancy deposit.

If you have created a tenancy with us, then you won’t get a payment into your account with the holding deposit. Rather, you will have to pay a smaller amount of move-in money.

Hope this answers your question!
Sam

I am not familiar with open rent rules as I Only ever self manage so advice come only be based upon that and the rules And regulations surrounding such as I am not sure the rules of any agent.

I can assure you that any deductions is not correct as all payments should be independent or individual so if somebody gives me £100 as a holding deposit I have to return that same amount of money not start deducting from other monies for other purposes.

Your question seem to be directed directly at an agent in this case open rent so your question should only be presented to open rent which I know for sure they will definitely answer you with clarity as they seem to be extremely honest and trustworthy from what I can see.