Mr Andy Kay

Tenancy Deposits

Dear Team,

We have taken one weeks rent holding deposit on a property, referencing approved and LL & T have agreed a tenancy start date of the 7th of September 2020. As the tenancy is subject to the tenant selling her property & the extended timescale before the proposed start date, the landlord has requested the balance of the first months rent to be paid now.

Both parties have agreed that the LL can keep the entire first months rent if the tenancy does not go ahead on the above date. This suits both parties as the proposed tenant does not want to sign a 12 month tenancy at this moment in time (just in case the property sale falls through) & also reflects the potential lose of income to the landlord for holding on, if the tenancy does not go ahead.

Could you advise if the above proposal is allowed (both parties are happy to sign a letter outlining the above agreement) or is there an alternative solution to this predicament.

Best Regards