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Holding Deposit Scotland


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Hi.  Could any Scottish landlord please tell me if there is a way of agreeing a holding deposit with a new tenant now that it is unlawful under the terms of the new Scottish Government tenancy agreement?   Is there another procedure that achieves the same end i.e the tenant has the security of knowing that the advert for the property will be removed and the landlord will not renege on the agreement before the deposit is paid, contract signed etc?  And the landlord doesn't need to wast their time or the time of any other prospective tenants by continuing to hold viewings in the case the tenant reneges after agreeing to rent the property.  I honestly fail to see how a holding deposit is a bad thing...  

 

I would appreciate any clarification.  Many thanks.

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Hi Aileen,

 

I had the same question when I started a couple of years ago and the outcome is that you can't charge one and just have to take the risk.

We can choose a tenant, pay for and complete referencing and then it can all fall through at the last minute leaving us out of pocket for costs and lost rent.

The tenant can also move in and give their 28 days notice on day 1, which isn't much better.

 

Unfortunately it's now just another cost of being a landlord. So choose your tenant well and provide good quality homes and you'll get the best of tenants who don't want to leave.

 

Craig.

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