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Holding deposits

Agreeing a tenancy

Agreeing a tenancy usually means that you and the landlord sign a tenancy agreement.

Before you sign, you must get either:

  • a copy of the agreement

  • written information about the tenancy

More on private tenancy agreements.

How long do you have to sign the agreement?

You usually have 15 days from paying a holding deposit to agree a tenancy.

You might lose your money if you do not take reasonable steps to agree a tenancy in time.

Your holding deposit should be returned if the landlord decides not to rent to you.

Can your landlord ask you to sign the agreement at a later date?

You can agree a different time limit for signing the tenancy agreement.

For example, students often view properties for the next academic year in the autumn term. A letting agent might take a holding deposit to reserve the property. But the landlord might want to wait a few more months before they sign the agreement.

You do not have to agree to a different time limit for signing the agreement. But if you do not agree, the landlord might decide not to rent to you. They must return your holding deposit if this happens.

If you sign a tenancy agreement

The landlord or agent can either:

  • return your holding deposit within 7 days

  • put this money towards a tenancy deposit or first rent payment if you agree

Most tenancy deposits must be protected with a scheme. You should get the money back when your tenancy ends.

More on tenancy deposit protection.

Last updated: 5 October 2026

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