REFUNDS, CANCELLATIONS, AND CLIENT MONEY PROTECTION POLICY

MILEGATE RENTALS LTD

1. PREAMBLE

1.1. This Policy governs the financial protocols, refund mechanisms and cancellation procedures of Milegate Rentals Ltd (hereinafter “the Company”), registered at 220 The Vale, London, NW11 8SR.

1.2. This Policy is intended to operate in accordance with the Tenant Fees Act 2019, applicable tenancy deposit legislation, the Consumer Rights Act 2015 and the requirements of our Client Money Protection provider.

2. HOLDING DEPOSITS

2.1. Definition: A Holding Deposit is a sum paid by a prospective tenant to reserve a property while pre-tenancy checks are carried out. It is capped at a maximum of one week’s rent.

2.2. Only one Holding Deposit may normally be accepted for a property at any one time.

2.3. Deadline for Agreement: The standard deadline for entering into the tenancy agreement is fifteen (15) calendar days from receipt of the Holding Deposit, unless a different deadline is agreed in writing.

2.4. Where the tenancy proceeds, the Holding Deposit will be refunded or, with the payer’s agreement, applied towards the first payment of rent or the Tenancy Deposit after the tenancy agreement has been signed.

3. REFUND AND RETENTION OF HOLDING DEPOSITS

3.1. The Company will refund the Holding Deposit where required by law, including where:

a) the Landlord decides not to proceed with the tenancy;
b) the tenancy is entered into; or
c) the Deadline for Agreement expires without a tenancy being entered into, unless a lawful ground for retention applies.

3.2. Where a refund is required, it will be made within seven (7) days of the relevant event or decision, in accordance with the Tenant Fees Act 2019.

3.3. The Company may be entitled to retain the Holding Deposit where:

a) the prospective tenant withdraws from the proposed tenancy;
b) the prospective tenant fails a Right to Rent check, provided the relevant statutory conditions are met;
c) the prospective tenant provides false or misleading information which materially affects their suitability to rent the property; or
d) the prospective tenant fails to take all reasonable steps to enter into the tenancy agreement where the Landlord and/or Company have taken reasonable steps to do so.

3.4. Where the Company intends to retain a Holding Deposit, the payer will be provided with written reasons within the statutory seven-day period. If the required written notice is not given within that period, the Holding Deposit will be refunded.

4. TENANCY / SECURITY DEPOSITS

4.1. Maximum Amount: A Tenancy Deposit will not exceed five (5) weeks’ rent where the annual rent is below £50,000, or six (6) weeks’ rent where the annual rent is £50,000 or more.

4.2. Managed Properties: Where Milegate Rentals Ltd manages the property and is responsible for deposit protection, the Tenancy Deposit will normally be protected in the custodial scheme operated by the Deposit Protection Service (DPS).

4.3. The deposit will be protected and the required prescribed information provided within the applicable statutory time limits.

4.4. Let-Only Properties: Where Milegate Rentals Ltd acts on a let-only basis and does not manage the property, any Tenancy Deposit collected by the Company will normally be transferred to the Landlord or the Landlord’s appointed managing agent, who will thereafter be responsible for protecting the deposit in an authorised tenancy deposit scheme and complying with the applicable deposit-protection requirements.

4.5. Milegate will not normally retain or administer a Let-Only Tenancy Deposit after it has been transferred to the Landlord or managing agent.

4.6. Where a deposit is held within the DPS Custodial Scheme, end-of-tenancy repayment and any deductions or disputes will be dealt with in accordance with the DPS rules and procedures.

5. REFUND OF RENT AND OTHER PAYMENTS

5.1. Overpayments: Where rent or another payment has been made in error or in excess, the payer should notify the Company at info@milegategroup.co.uk.

5.2. The Company will reconcile the relevant client ledger and, where an overpayment is confirmed and refundable, arrange repayment.

5.3. The Company will aim to process verified refunds promptly and ordinarily within seven (7) Working Days once the amount, recipient and appropriate payment details have been confirmed.

5.4. Refunds will normally be made back to the original payer or original source of funds wherever practicable. Where this is not possible or appropriate, the Company may require additional verification before making payment to an alternative account.

6. CANCELLATION OF SERVICES – LANDLORD CLIENTS

6.1. Where a Landlord is legally entitled to a statutory cooling-off period in relation to an agreement entered into at a distance or away from the Company’s premises, the applicable cancellation rights will be honoured.

6.2. Any cancellation outside a statutory cooling-off period will be governed by the cancellation, termination and withdrawal provisions contained in the Company’s signed Terms of Business.

6.3. Where the Landlord expressly requests that services begin during any applicable cooling-off period, the consequences of cancellation will be dealt with in accordance with the relevant legislation and Terms of Business.

7. CLIENT MONEY PROTECTION (CMP)

7.1. Milegate Rentals Ltd is a member of Client Money Protect (CMP) and maintains the required Client Money Protection membership.

7.2. The Company’s current CMP certificate is displayed at relevant premises and published on the Company’s website in accordance with applicable legal requirements.

7.3. Client Money Protection provides protection in respect of qualifying client money in accordance with the rules and terms of the CMP scheme.

8. BANKING AND PROCESSING DELAYS

8.1. The Company will take reasonable steps to process refunds and payments within the applicable legal and contractual timescales.

8.2. Where a delay arises because of banking-system failures, payment-processing delays or other circumstances outside the Company’s reasonable control, the Company will take reasonable steps to resolve the matter promptly. Nothing in this Policy is intended to exclude or limit any statutory obligation or deadline which cannot lawfully be excluded.

Document Version: 1.2
Last Updated: September 2026
Approved by: Board of Directors, Milegate Rentals Ltd