Will my holding deposit be deducted from my first rent payment or tenancy deposit?

Yes, for our English apartments a successful application can mean your holding deposit is credited towards your first rent payment or your tenancy deposit. We will agree with you how it is applied.

Otherwise, the holding deposit must be refunded in accordance with the relevant rules. It is not a separate permanent fee for applying to rent the apartment.

Example

If your holding deposit was £400 & your tenancy deposit was £2,000, we may, with your agreement, apply the £400 against the tenancy deposit. You would then have £1,600 left to pay towards the tenancy deposit.

We will show the amount received & any credit or refund in your payment information so you can see how the figures add up.

In Dublin, an agreed reservation payment is part of the security deposit rather than a separate English-style holding deposit. The total security deposit cannot exceed one month’s rent.

Do not treat a holding deposit as your first month’s rent unless we have explicitly agreed that allocation.