What does let agreed mean?

What stage of renting is let agreed?

The middle. The home has been viewed, an application or offer has been accepted, and the checks have started, but money beyond a holding deposit has not changed hands and there is no tenancy yet.

• 1. Viewing and application.
• 2. Landlord accepts the application: the listing goes to let agreed.
• 3. Holding deposit paid, of up to one week’s rent, to take the home off the market.
• 4. Referencing and the right to rent check.
• 5. The tenancy agreement is drafted, read and signed.
• 6. First month’s rent and the tenancy deposit are paid, and the deposit protected.
• 7. Keys, inventory and moving in: the listing comes down or changes to let.

What does “let agreed subject to contract” or “subject to references” mean?

The same thing, said more carefully. “Subject to contract” means nothing is binding until the tenancy agreement is signed. “Subject to references” means the acceptance depends on the applicant passing referencing. Both are reminders that let agreed is a stage, not a finished letting.

What is the difference between let agreed, under offer and let?

None of them is a legal term, and agents use them loosely, but the usual order is: under offer, where an applicant has put in an application the landlord has not yet accepted; let agreed, where the landlord has accepted it and the checks are under way; and let, where the tenancy agreement has been signed and the home has a tenant.

If you are not sure what an agent means by a label, ask a direct question: has a holding deposit been paid, and has anything been signed? The answers tell you more than the label.

Can let agreed fall through?

Yes, and it does. Referencing can fail, the right to rent check can fail, the applicant can change their mind or find somewhere else, or the landlord can pull out. Until the agreement is signed, either side can walk away, though who pulls out, and why, decides what happens to the holding deposit.

Can I still view or make an offer on a let agreed property?

You can ask. Some agents will take your details as a backup in case it falls through, and it is worth asking to be told if it does. What you cannot do is outbid the accepted applicant: since 1 May 2026 a landlord or agent must not encourage offers above the advertised rent, or accept one.

And once a holding deposit has been taken, the statutory guidance says a landlord or agent must not take another holding deposit for the same property unless the first has been repaid. An agent asking you for a holding deposit on a home that is already let agreed to someone who has paid one should be asked to explain.

An agent inviting “best and final offers” is breaking the bidding ban. Screenshot the advert and keep the messages: the council can fine up to £7,000.

How much is the holding deposit?

No more than one week’s rent. It reserves the home while the checks are done, has to be refundable, and is normally put towards your first month’s rent or your tenancy deposit if the tenancy goes ahead. Anything above one week’s rent is a prohibited payment.

Work out the maximum holding deposit for a rent — one week is the annual rent divided by 52, not the monthly rent divided by four.

How long does let agreed last?

There is no fixed period for let agreed itself, but the holding deposit comes with a deadline. Unless you both agree a different date in writing, the tenancy has to be entered into within 15 days of the landlord or agent receiving the holding deposit. If that deadline passes without a tenancy, the deposit has to be repaid unless one of the reasons for keeping it applies.

If the checks are running late and you both still want to go ahead, agree a new date in writing rather than letting the deadline pass quietly.

Can I lose the holding deposit?

Only for four reasons: you gave false or misleading information, you failed a right to rent check, you pulled out, or you did not take reasonable steps to agree the tenancy by the deadline while the landlord did. If the landlord keeps it, they must tell you why in writing within 7 days. If they are giving it back, it has to be repaid within 7 days.

When a holding deposit must be refunded, and a letter to ask for it. If the landlord changes their mind about you, it is not on the list: the money is yours.

Can the rent or the terms change after let agreed?

Nothing is binding until you sign, so a landlord can try. But they cannot accept a higher bid from someone else, and if they decide not to go ahead, your holding deposit has to be repaid. If the terms moved after you paid, whether you get it back can turn on who failed to proceed, so keep the advert and every message showing what was agreed.

Screenshot the listing with the rent on it now, before it comes down. It is the evidence of what you were offered, and it disappears when the listing does.

The property is let agreed to me. What happens next?

Move quickly on the checks, read the agreement properly, and do not pay more than the law allows. Most delays at this stage come from paperwork, and a missed request for information is one of the reasons a holding deposit can be kept.

• Answer referencing requests the same day, and tell your referees to expect a call.
• Get your right to rent evidence ready: a share code, or your passport if you are a British or Irish citizen.
• Ask for the draft tenancy agreement early, and read every clause before you sign.
• Pay no rent before the agreement is signed; after signing, no more than one month in advance.
• Check the tenancy deposit is within five weeks’ rent, and that it is protected within 30 days.
• Check the home itself before you commit: the energy rating, flood risk and area.

What if I am worried about the referencing?

Say so before you pay the holding deposit, not after. Giving false or misleading information is one of the reasons a holding deposit can be kept, so being upfront about a county court judgment or a gap in income protects you. The agent can tell you whether a guarantor would be needed while you still have the choice.

Renting with bad credit covers what referencing looks for, and how much rent you can afford the income agents expect.