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Residential Tenancies Act 1997
18Holding deposits
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18 Holding deposits
(1) A lessor must not require or accept a holding deposit.
(2) 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.
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.