Holding Deposit Information
A holding deposit equivalent to one week’s rent is required to reserve this property while referencing checks are carried out and the tenancy agreement is prepared.
The holding deposit is calculated as follows:
Monthly rent × 12 ÷ 52
If the application is successful and the tenancy proceeds, the holding deposit will be deducted from the first month’s rent and applied on the day the tenancy agreement is signed and keys are collected.
The holding deposit will be refunded in full if the landlord or Coles Group withdraws from the proposed tenancy.
Coles Group may retain the holding deposit if the applicant:
Provides false or misleading information
Fails a Right to Rent check
Withdraws from the property
Fails to take all reasonable steps to enter into the tenancy agreement
Once a holding deposit has been paid, the landlord and applicant will normally have 15 days to enter into a tenancy agreement (known as the deadline for agreement), unless otherwise agreed in writing.
The holding deposit is protected through Coles Group’s Client Money Protection membership.
Further details will be provided during the application process.
For further details on this property please call us on:
01622 763322