All holding deposits in England and Wales are capped at a maximum of one week's rent by law. This was introduced by the Tenant Fee Act 2019 and the Renting Homes (Fees etc) (Wales) Act 2019
If you are using our Rent Now, tenancy creation service, the holding deposit will be set at one week's rent automatically. For more information on what happens after a tenant places a holding deposit click here.
Our full guide on what the Tenant Fee Ban means for you can be found here.