SCHEDULE 1Permitted Payments

Holding deposit

4

A holding deposit is an amount which—

(a)

before the grant of a standard occupation contract, is paid to a landlord or a letting agent;

(b)

is paid for the purpose of reserving a right of first refusal in relation to the granting of the contract, subject to suitability checks to be carried out as to the prospective contract-holder and agreement between the parties to enter into the contract;

(c)

does not exceed an amount equivalent to one week's rent under the contract.