What is holding deposit?

In summary, a holding deposit is a payment to a landlord or agent to reserve a property that you’re looking to rent. In most cases, prospective tenants are entitled to a refund if the landlord makes the decision not to let the property out to them. It is advised that Tenants only pay a holding deposit if you are serious about the tenancy. If you make the decision not to go ahead and accept the tenancy offer we, the agent, or the landlord may keep the holding deposit.