Tasmania Holding Deposits

In TAS, Holding Deposits are known as Holding Fees or Holding Agreements. The Holding Fee holds the property for the prospective tenant for at least 7 days.

Holding Deposits are known as ‘Holding Fees’ or ‘Holding Agreements’ in Tasmania.

A Holding Fee is paid by a prospective tenant to a landlord in return for the landlord holding a premises for 7 or more days.

How long is the premises held for and what is the maximum Holding Fee?

The landlord and tenant are free to negotiate the amount of the Holding Fee and the duration of the holding period beyond 7 days.

It is common practice for the Holding Fee to be the equivalent of 1-2 weeks rent.

What happens to the Holding Fee?

When the landlord keeps the Holding Fee:

• If the tenant agrees to enter the agreement, or
• If the tenant chooses not to enter the agreement.

Although it is not required by Tasmanian law, it is good practice if the tenant does enter an agreement for the Holding Fee to be credited towards the first rental payment.

When the tenant is refunded the Holding Fee:

• If the landlord breaches the agreement by not holding the premises for the tenant and instead entering an agreement with another tenant.

Transferring money safely

When paying your deposit, bond or rent by cash make sure you get a receipt. With modern phones this can be as simple as an SMS or email confirming the amount, date and what it is for. Keep a copy of this incase you need it later.

Never ever transfer money to a bank account outside of Australia or use a untraceable money transfer system such as WESTERN UNION. If anyone asks you to do this on any website it is likely to be a scam and you are almost guaranteed to lose your money.

If this ever happens on Flatmates.com.au report the member immediately so we can investigate and take the appropriate action.

You might also be interested in

TAS Bonds
TAS Tenancy Agreements
TAS Rental Payments

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