Holding deposits
18 Holding deposits
A lessor must not require or accept a holding deposit.
An agreement to pay a holding deposit is void, and any amount paid under an agreement to pay a holding deposit is recoverable as a debt owing by the person to whom the amount was paid to the person who paid the amount.
In this section:
holding deposit means an amount paid or payable by a tenant to a lessor in consideration for the lessor not entering into a residential tenancy agreement with a third party in relation to premises pending the tenant entering into a residential tenancy agreement with the lessor in relation to the premises.
Division 2.4 Lessor’s obligations on signing agreement
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.