THE DOS AND DON’TS DEALING WITH DEPOSITS

1. Security deposits, which protect landlords if you damage the home or don’t pay the rent must be covered by a designated scheme.

2. When properties are marketed by several agents, each could take a holding deposit. It is wrong for sole agents to do this.

3. Before handing over a holding deposit, ensure the agent confirms this will take the property off the market. Getting this in writing or an email helps if agents go

back on their word.

4. Ask whether the deposit is refundable if you decide the property is not for you.

5. If you rent the property, your holding deposit should either be refunded or go directly towards your security deposit.

6. The Which? website has help - search for “Which? holding deposit confirmation tool” where you can find a free letter to help you confirm the terms and conditions of your deposit with the agent.