What is an advanced rent payment?
An advanced rent payment is a sum of money paid to reserve a room or property. Once the advanced rent payment is paid, the room or property will be taken off the market, allowing you time to complete the tenancy agreement. You will have a specific amount of time to complete the tenancy agreement, so once you've paid the advanced rent payment, make sure to complete the agreement within that timeframe.
Will I get my advanced rent payment back?
Yes, provided you complete the tenancy agreement in time. In most cases, the advanced rent payment will be applied towards the first month’s rent. Additionally, if the landlord, agent, or hall decides not to rent the property to you, you will receive your money back. However, if you do not complete the tenancy agreement within the agreed timeframe, you will lose your advanced rent payment.
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