Hi Everyone
Last week i placed a holding deposit (1 weeks rent) on a rental property.
Movers have been booked and was given a date to sign the lease.
Realestate called today advising that tenants have delayed returning the keys and are therefore having to delay the sign in process.
I am now wondering if I can get my holding deposit back and apply for another property as there has been no agreement signed.
NOTE: This is for a residential property in NSW.
REA hasn't responded as yet
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Since you've already contacted them by email and have your request on record (presumably as you are waiting for a reply) you can call them first thing in the morning so they can't just not reply
Thanks - rookie error on the reply button
I'll buzz them tomorrow. Was wanting to cover all basis before calling them incase they squirmed out
Here's a quote from Fairtrading NSW https://www.fairtrading.nsw.gov.au/housing-and-property/rent…
In particular, I believe a misleading representation was made as they gave you a date that you could move in, which was not adhered to.
"A landlord or agent may ask a tenant to pay a holding deposit (also known as a holding fee) if they have approved the tenant’s application and are offering the tenant the property. Holding deposits cannot be more than one week’s rent.
If a tenant has paid a holding fee, the landlord or agent cannot sign a tenancy agreement with any other person within seven days of receiving the payment (or longer if agreed to). The landlord or agent must also provide a receipt.
If a tenant signs the agreement, the holding deposit must be paid towards rent.
If the landlord does not sign the agreement, the holding deposit must be given back to the tenant.
If the tenant does not sign the agreement, the landlord or agent may keep the holding deposit unless the tenant did not sign the agreement because the landlord or agent did not inform them of any ‘material facts’ or made a false or misleading representation.
Thanks. I read the part about misleading representation… the delay in signing date could be considered misleading
The purpose of a holding deposit is to hold a property until a certain date, if they cannot fulfill the requirements then the initial purpose is null and void. So yes you can get your holding deposit back as they reneged on the agreement.
Have you asked your REA? Or have they ask that you check at OzB first?