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How to pay a holding deposit

What is a holding deposit?

Once an offer on a rental property has been accepted, the estate agent will request a holding deposit of one week rent which allows you to secure the property, while the administrative formalities are completed. During this time, the property is taken off the market and shouldn’t be offered to other potential tenants (please note that there can be unfortunate exceptions to this!).

Is the holding deposit refundable?

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