17.  Holding Deposit and Agreement Deadline

17.1  Any holding deposit is taken under the Tenant Fees Act 2019 and Schedule 2 to that Act to reserve the Property pending agreement of a tenancy. It is not a tenancy deposit or advance rent and will be dealt with only as permitted by law.

17.2  The Deadline for Agreement is the statutory period under the Tenant Fees Act 2019 within which a tenancy must be entered into following receipt of the holding deposit, unless a different deadline is agreed in writing in accordance with this clause.

17.3  Where reasonably required to complete the letting process, the parties may agree in writing to extend the Deadline for Agreement. This may include time required to obtain and assess guarantor documentation, complete Right to Rent checks, coordinate multiple joint tenants or complete the tenancy documentation, particularly where the tenancy is intended to commence on 1 August.

17.4  Any extension must be recorded in writing and confiri the revised Deadline for Agreement. During any extension, the holding deposit will continue to be held and dealt with in accordance with the Tenant Fees Act 2019.

17.5  The holding deposit will be repaid, applied towards rent only as permitted by Schedule 2 of the Tenant Fees Act 2019. This may include where a prospective tenant withdraws, fails to take all reasonable steps to enter into the tenancy within the agreed timeframe; fails to provide a suitable guarantor where required; fails a Right to Rent check or provides materially false or misleading information.

17.5  The parties must act reasonably and in good faith to progress the tenancy to completion, taking into account any circumstances beyond their reasonable control.​

17.7  No tenancy shall arise unless and until the parties have entered into a tenancy agreement.

18.  Continuation for the Following Academic Year (Renewal Process)

18.1 If you wish to be considered for a further tenancy for the following academic year, you must notify us in writing by 1 November.

18.2  Where notification is received, the parties must use reasonable endeavours to agree and enter into a new tenancy agreement and, where applicable, a holding deposit arrangement under Clause 17 in accordance with the Tenant Fees Act 2019.