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ARLA Memeber - Lettings DirectHolding Fees...

This is a deposit paid to reserve a property for the tenant whilst either the application is being processed or there is an amount of time between the tenant agreeing to take the property and when he or she actually is ready to move in.

Holding deposits do vary from £300 - £500, dependant on the property and any additional requirements and are deducted from the final balance to pay when a tenant moves in to the property.

Once a holding deposit has been placed by a tenant, then that property is with-drawn from advertising and no other tenants are shown this property.

If for whatever reason the tenant decides to withdraw from proceeding with the property, then the holding deposit is used to pay the agency administration costs and the cost of re-advertising the property. 

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