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Apollo Lettings – Holding Deposit Policy

To reserve a property, applicants may be required to pay a holding deposit. Once received, the property will be withdrawn from the market for an agreed reservation period whilst references and checks are completed.

The holding deposit will normally be deducted from the first month's rent or tenancy monies due upon commencement of the occupation contract.

Reservation Period

The standard reservation period is 15 calendar days from the date the holding deposit is paid unless otherwise agreed in writing.

Applicants must provide all requested information, supporting documentation, identification and references promptly to enable the referencing process to be completed within this period.

Circumstances Where the Holding Deposit Will Be Refunded

The holding deposit will be refunded if:

• The landlord decides not to proceed with the tenancy.

• Apollo Property Sourcing & Management withdraws the property from the market.

• Referencing is unsuccessful despite the applicant having provided accurate, complete and honest information.

• The parties mutually agree not to proceed.

• The occupation contract is entered into successfully.

• Circumstances Where the Holding Deposit May Be Retained

The holding deposit may be retained where permitted by Welsh legislation, including where:

False or Misleading Information Has Been Provided

The applicant provides false, misleading or incomplete information which materially affects their suitability for the tenancy, including but not limited to:

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• Undeclared County Court Judgments (CCJs).

• Undeclared Individual Voluntary Arrangements (IVAs).

• Undisclosed bankruptcy proceedings.

• False employment details.

• False income information.

• False landlord references.

• Failure to disclose current rent arrears or other significant adverse credit information.

• The Applicant Withdraws

• The applicant decides not to proceed with the tenancy after paying the holding deposit.

• Failure to Take Reasonable Steps to Enter Into the Occupation Contract

• The applicant fails to take reasonable steps to progress the application within the reservation period, including:

• Failing to provide requested identification documents.

• Failing to provide proof of income or right-to-rent documentation where required.

• Failing to complete referencing forms.

• Repeatedly failing to respond to reasonable requests for information.

• Delaying the referencing process without reasonable explanation.

• Failing to provide all requested information within the reservation period of 15 calendar days.

Important Information

Applicants are strongly encouraged to disclose any adverse credit history, CCJs, IVAs, previous rent arrears, affordability concerns or other matters which may affect their application before paying a holding deposit.

Disclosure does not automatically prevent an application from being considered. In many cases, alternative arrangements such as a guarantor may be accepted. However, failure to disclose relevant information may result in the holding deposit being retained where permitted by law.

Apollo Property Sourcing & Management will always assess each application fairly and in accordance with current Welsh housing legislation