The Holding Deposit will be held in a third party stakeholder account.

• MSAL shall be entitled to deduct the Holding Deposit from the first rent payment payable by you under the authority given in this Holding Deposit Agreement. MSAL will retain the Holding Deposit only where a tenant:
  • Provides false or misleading information which you can reasonably consider when deciding to let a property- this can include a tenant’s behaviour in providing false or misleading information.
  • Fails a right to rent check.
  • Withdraws from a property (unless a landlord or agent imposed a requirement that breached the ban or acts in such way to the tenant or relevant person that it would be unreasonable to expect a tenant to enter into a tenancy agreement with them).
  • Fails to take all reasonable steps to enter into a tenancy agreement and the landlord or agent takes all reasonable steps to do so (unless a landlord or agent imposes a requirement that breaches the ban or acts in such way to the tenant or relevant person that it would be unreasonable to expect a tenant to enter into a tenancy agreement with them).
• MSAL must return the Holding Deposit if it imposes a requirement that breaches the ban or act in such way towards a tenant or a relevant person that it would be unreasonable to expect them to enter into a tenancy agreement with you (e.g. a landlord or agent asking a tenant to pay a fee for referencing, seeking to include an unfair term in the tenancy agreement or acting in an aggressive or harassing way).
• MSAL will return the Holding Deposit, or set out in writing the reason for retaining the Holding Deposit within 7 days of deciding not to enter the agreement, if the Deadline for Agreement has not passed, or within 7 days of the Deadline for Agreement if it has.

Even where MSAL is entitled to retain a tenant’s Holding Deposit, it will consider whether it is necessary to do so.