RESIDENTIAL TENANCIES ACT 1997 - SECT 18 Holding deposits
RESIDENTIAL TENANCIES ACT 1997 - SECT 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.
(3) In this section:
"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.