How Much and why pay a Holding Deposit?

Understanding the financial commitments involved in securing a rental property is crucial for prospective tenants. One of the first steps in this process is paying the initial holding deposit. At Property Genius, we aim to make this aspect of renting as transparent and straightforward as possible.

The initial holding deposit is equivalent to one week's rent for the property you're interested in. This amount is standardised to provide fairness and consistency across all our listings.

The holding deposit serves as a commitment from you, indicating your serious interest in the property. It also provides the landlord with a level of assurance while the necessary checks and paperwork are being completed.

This deposit is not an additional or hidden cost. It is credited against your move-in money, which includes the first rental payment and the tenancy deposit. Essentially, it becomes part of your initial payment towards securing the property.

We believe in complete transparency when it comes to financial transactions. All terms related to the holding deposit will be clearly outlined in the Tenancy Holding Deposit Guide, which you will be required to review and sign.

By clearly specifying the amount and terms of the initial holding deposit, Property Genius aims to eliminate any confusion and make the rental process smoother for both landlords and tenants.