**Terms and Conditions for Holding Fees**
Effective Date: 01/01/2025
These Terms and Conditions (the "Agreement") govern the holding fee process for renting a room through A & E Property and its related companies: AEE Assets Ltd, A & E Apartments Ltd, MACE Holdings Kent Ltd, and Marina Apartments Ltd (collectively referred to as "the Company", "we", "our", or "us"). By submitting a holding fee to reserve a room with us, you agree to be bound by the following terms:
### 1. **Purpose of the Holding Fee**
1.1. The holding fee is a payment made to secure a room in one of our Houses in Multiple Occupation (HMOs). It is intended to reserve the room while we process your application and remove the listing from availability.
1.2. The holding fee is **not** a deposit and does not form part of the rent or any future payments.
### 2. **Requesting a Holding Fee**
2.1. We will request a holding fee once we are satisfied with the information provided by you during the application process, including but not limited to personal details, credit information, and any relevant disclosures (e.g., CCJ information, bad credit, etc.).
2.2. The holding fee confirms that you have agreed to rent the room and that you are not actively pursuing other rental options.
### 3. **Refund and Cancellation of the Holding Fee**
3.1. **Non-Refundable Holding Fee:**
- The holding fee is non-refundable **if**:
- You provide false or misleading information in your application.
- You change your mind and decide not to proceed with the rental agreement.
3.2. **Refundable Holding Fee:**
- The holding fee will be refunded in full if, for any reason, we decide not to proceed with the rental agreement or cancel the reservation.
3.3. Refund requests must be made within [insert time frame] of the holding fee payment. Refunds will only be issued via the original payment method.
### 4. **Reservation Process**
4.1. Once the holding fee is received, we will immediately remove the room from our available listings and cancel any future viewings or inquiries related to that room.
4.2. The holding fee guarantees the room will be reserved for you and no further applicants will be considered during the holding period.
### 5. **Tenant’s Obligations**
5.1. You are responsible for providing accurate, truthful, and complete information during the application process. Any material misrepresentation or failure to disclose relevant information may result in forfeiting your holding fee.
5.2. If you change your mind, or if any details change (such as your ability to meet rental requirements), you must inform us promptly. Failure to do so may result in the forfeiture of your holding fee.
### 6. **Company’s Rights**
6.1. We reserve the right to cancel the reservation and refund the holding fee if we determine that the room is no longer available, or for any other reason we decide not to proceed with your rental application. In such cases, the holding fee will be refunded in full.
6.2. We reserve the right to refuse rental to anyone who fails to meet our criteria, which may include a satisfactory credit check, rental history, and other relevant assessments.
### 7. **General Terms**
7.1. The holding fee is not a guarantee of tenancy. A separate rental agreement will be required for the rental of the room once your application is fully approved.
7.2. By making the holding fee payment, you acknowledge that you have read, understood, and agree to these terms and conditions.
7.3. These Terms and Conditions are subject to change at any time. We will provide notice of any changes through our website or other communication channels.
### 8. **Contact Information**
For any questions or concerns regarding the holding fee or these Terms and Conditions, please contact us at:
- **A & E Property**
- Email: info@ae-propertyltd.co.uk
- Phone: 01634 907 011
By submitting a holding fee payment, you acknowledge and agree to these Terms and Conditions.
