Member

In addition, for a tenant to have reached the stage of entering into a tenancy agreement, they will likely have already paid a holding deposit of up to one week’s rent and a tenancy deposit of five or six weeks’ rent. If the initial rent were not to be paid, a landlord would retain these deposits. They provide a risk mitigation for landlords facing unpaid rent and are a strong indicator that the tenant, having already made these payments, is willing and able to pay their monthly rent.