I work in a University Accommodation Office and deal (mostly) with landlords offering 10 or 12 month Assured Shorthold Tenancies. As many students sign up for their 2nd or 3rd year well in advance of the start of term and therefore before the start of the AST fixed term, most landlord's require a "holding" deposit.
Whilst I understand that this is, in itself, legal, can anyone clarify what the law is about "holding" deposits?
For example, does the landlord now have to protect it in one of the new schemes ?
Do they have to return the full amount when the tenancy starts or offset against the first rent payment(s)
And, if the student decides NOT to take on the tenancy, can the landlord hold on to the entire amount (which is usually at least a month's rent) ?
Comments, answers, most welcome





