Product code: F110W – for updates see tab
From 1 September 2019, under the Renting Homes (Fees etc.) (Wales) Act 2019, a “holding deposit” is a permitted payment up to a maximum of 1 weeks rent. However, there is a very specific procedure to be followed when handling holding deposits.
This is a PDF receipt to give to the “payer” of the holding deposit and contains all appropriate information including details of the payer and importantly any agreed “deadline for agreement”.
The receipt also acts as an agreement between payer and receiver of the holding deposit and outlines the reasons why the holding deposit may be retained.