JT Allen – Your Rental Property FAQ
The holding deposit is one week's rent and one week's rent in advance.
It secures the property once you have been approved and must be paid within 2 hours of approval, otherwise it will go to the next applicant in line.
Payment confirms that you have personally inspected the property and that, under Part 3 Division 3 Section 52 (1) of the Residential Tenancies Act 2010, the premises are in a reasonable state of cleanliness and fit for habitation.
Once paid, the holding deposit is non-refundable under any circumstances, including change of mind.