# Question about security deposit



## asi5a (Mar 21, 2013)

Hi Everyone,
I am about to finalize a condo rental in JLT and even made an offer to the estate agent. The estate agent mentioned that in order to make sure we don't 'lose' this place I need to give the security deposit immediately, even before signing the tenancy agreement. Is this normal? He asked for my passport and Residence visa stamp copy, which I provided, but I am hesitant to write a check even before seeing a draft of the tenancy agreement...somehow I think this is a bit dubious...any advice would be most appreciated.
Thanks


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## Chocoholic (Oct 29, 2012)

It's common practice and they call it a 'holding' deposit, which is usually non-refundable!

I've had this issue recently where I put a deposit on an apartment - they called it a security deposit, NOT a holding deposit - the landlord and I couldn't agree terms, so I walked away BUT I made sure I got my deposit back.


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## asi5a (Mar 21, 2013)

Chocoholic said:


> It's common practice and they call it a 'holding' deposit, which is usually non-refundable!
> 
> I've had this issue recently where I put a deposit on an apartment - they called it a security deposit, NOT a holding deposit - the landlord and I couldn't agree terms, so I walked away BUT I made sure I got my deposit back.


Thank you Chocoholic, good to know, I am just concerned with all the scams going around...plus the Real estate agent is quite shifty so I am a bit cautious.


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## Chocoholic (Oct 29, 2012)

Mmm well if you have a bad feeling about them, don't do it. Go with your gut.


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## Bigo (May 22, 2013)

This is normal, just ask for a copy of the the title deeds of the apartment to make sure it's a clean transaction and the owner is renting it out. Photo copy your cheque and let them sign on it that they got it from you against renting the apartment I case disagreement happen they should return it. Totally normal ,


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## rsinner (Feb 3, 2009)

why cant the agent show you the tenancy agreement ? If the property is that "hot" tough luck. But maybe wait a day or two and finalise the agreement in the mean time?
And most agents are shifty. No surprises there. Chocoholic may have had a good experience getting back her deposit, but it is not always the case and even if you get it back, probably you will need to work for it. So better sort out things before you part with money.
Tenancy agreement should not take more than an hour to sort.


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