Document background
The Pre Lease Deposit Agreement serves as a crucial intermediate step in property leasing transactions under English and Welsh law. It is typically used when parties have agreed in principle to enter into a lease but require time to finalize terms or complete necessary preparations. The agreement safeguards the landlord's position by securing the tenant's commitment while protecting the tenant's deposit through clear terms for its return. This document is particularly important in commercial property transactions where significant deposits may be involved and detailed negotiations are common. The agreement needs to comply with the Tenant Fees Act 2019 for residential properties and incorporate relevant provisions of property and contract law.
