Holding Deposit Terms

These are Moove’s holding deposit terms. All applicants are required to read and agree to these terms before paying or authorising a holding deposit. These terms only apply to properties in England.

When an applicant applies to rent a property through Moove, they will be required to authorise a holding deposit equivalent to one week’s rent.

Authorisation means that the holding deposit amount is reserved on the applicant’s payment method but not captured at this stage.

The landlord will be notified immediately once the holding deposit has been authorised.

Landlord Decision Period

From the time the holding deposit authorisation is made, the landlord has 72 hours to accept and proceed with the application or reject and release the authorisation.

If the landlord rejects or does not take action within 72 hours, the holding deposit authorisation will automatically lapse and no funds will be taken from the applicant.

Until the landlord accepts, the property will remain advertised.

If the landlord accepts the application, the holding deposit will be captured. For the avoidance of doubt, acceptance does not in itself create a tenancy agreement or an Assured Shorthold Tenancy.

The property will remain advertised and available for applications until the landlord accepts a specific applicant. If multiple applications are received, the landlord has full discretion to select their preferred applicant within the 72-hour decision period.

Obligations of the Applicant

By authorising the holding deposit, the applicant warrants that they will:

1. Provide accurate and complete information, and not mislead
2. Take all reasonable steps to progress the application and enter into a tenancy
3. Add any additional tenants or guarantors, and ensure they will cooperate fully with the process

The applicant understands that failure to meet these requirements may result in the holding deposit being retained in accordance with the Tenant Fees Act 2019.

The tenancy agreement must be entered into within 15 calendar days from the date the holding deposit is captured (the 'Deadline for Agreement'). This period may be extended if agreed in writing by all parties to accommodate specific circumstances such as delayed references, additional documentation requirements, or other legitimate reasons. If an extension is required, Moove will request written agreement from all parties before the 15-day period expires.

If the tenancy agreement is not entered into within the 15-day period (or any agreed extension) and none of the circumstances permitting retention apply, the holding deposit will be refunded in full within 7 days.

Once the landlord accepts the application and the holding deposit is captured, the property will be marked as 'Let Agreed' and removed from active marketing for up to 15 days while the tenancy is finalised, unless the applicant withdraws or fails to meet their obligations. If an applicant withdraws from the application, or Moove reasonably believes the applicant is no longer engaging with the process, Moove reserves the right to resume marketing the property.

Use of the Holding Deposit

If the landlord and applicant enter into a tenancy agreement for the property, the holding deposit will be credited towards the first rent payment, unless otherwise agreed in writing.

Circumstances where the Holding Deposit may be retained

Once the holding deposit has been captured, Moove may retain the holding deposit (or pay it to the landlord) where permitted by law if one or more of the following applies:

• The applicant withdraws from the application or decides not to proceed with the tenancy
• The applicant provides materially false or misleading information that affects the landlord’s decision to let
• The applicant fails referencing checks where false/misleading information has been provided
• The applicant fails Right to Rent checks
• The applicant or anyone acting on their behalf fails to take all reasonable steps to enter into the tenancy or causes unreasonable delays (for example, by failing to provide requested information, missing appointments, or not responding to communications within reasonable timeframes)

Where appropriate, the holding deposit may be paid to the landlord as compensation for losses arising from the abandoned application and the period during which the property was reserved. If the holding deposit is lawfully retained, we will provide written reasons to the applicant within 7 days of the decision.

Circumstances where the Holding Deposit will be refunded

The holding deposit will be refunded in full if:

• The landlord decides not to proceed with the tenancy for reasons unconnected to the applicant’s conduct
• The landlord withdraws the property from the market
• The tenancy cannot proceed due to circumstances outside the applicant’s control

Refunds will be processed within 7 days of the decision not to proceed.

Client Money

Any holding deposit funds captured by Moove will be held and managed in accordance with applicable client money protection regulations.

Any interest accrued on monies held by Moove will be retained by Moove and will not be payable to the applicant, landlord, or any third party.