Everything you need to know about the holding deposit — what it is, when it is refundable, and how it applies.
Effective Date: April 22, 2026 · Version 2.0 · Changelog
When you are selected based on your application, you may be asked to pay a holding deposit. The holding deposit temporarily reserves the property and removes it from active availability while your lease agreement is being finalized. Once paid, the property is held exclusively for you for 7 to 14 days — the specific hold window is communicated to you in writing at selection.
Without a holding deposit, the property remains available to other approved applicants. Holding requests are time-sensitive and typically must be completed within 24 to 48 hours of selection.
This fee is fully credited toward your move-in costs — it is not an additional charge.
The holding deposit amount is communicated to you in writing by the Choice Properties team upon approval. The amount varies by property.
The holding deposit is fully credited toward your move-in costs (typically applied to your security deposit) when your lease is executed. This is confirmed in writing in your lease agreement before you sign — it is not an additional charge on top of your move-in total.
The holding deposit refund eligibility depends on the timing of your request relative to payment:
| Timing | Refund Eligibility |
|---|---|
| Within 24 hours of payment | Full refund available upon written request — for any reason |
| 24 to 48 hours after payment | Partial refund may be available — reviewed case by case |
| After 48 hours, or after lease is executed | Generally non-refundable (see Forfeiture section below) |
All refund decisions are reviewed by Choice Properties staff. The timeframes in the table above represent the standard policy applied in most cases. Circumstances such as landlord withdrawal, material misrepresentation in the listing, or other platform-side errors may make the deposit refundable regardless of timing. Where a decision differs from the table, Choice Properties will provide written notice explaining the basis for the decision.
If you pay the holding deposit and more than 24 hours have passed, declining to sign the lease will generally result in forfeiture of the deposit, unless: (1) you can demonstrate a material misrepresentation in the property listing; (2) you are unable to proceed due to documented circumstances beyond your control; or (3) Choice Properties determines in its review that forfeiture would be inequitable. If you request a refund within 24 hours of payment, you are entitled to a full refund for any reason — no explanation required. Choice Properties will review the circumstances for all other requests and provide written notice of any forfeiture decision.
Once the lease has been fully executed by all parties, the holding deposit is no longer refundable. From that point, it is governed by the terms of your lease agreement.
All properties listed on the platform are expected to accurately reflect their condition, features, and details. Your protections are tiered based on where you are in the process:
This is the stage of greatest flexibility. If, before your lease is executed, the property is found to materially differ from the listing — including significantly mismatched photos, incorrect bedroom/bathroom count or square footage, major advertised amenities that are unavailable, or a unit that is no longer available as represented — you may be eligible for a refund of applicable fees paid to Choice Properties. Submit the discrepancy in writing to support@choiceproperties.com. All requests are reviewed promptly.
Once a lease has been signed, both the tenant and property owner are legally bound by it. At this stage, Choice Properties' guarantee applies only to specific, verifiable issues — not changes of mind or personal preference. Qualifying triggers include:
If a qualifying issue is confirmed, the remedy may be a refund, lease cancellation, or a guaranteed rematch to a comparable available unit — evaluated based on the specific circumstances and supporting documentation provided.
Refunds are not provided for subjective reasons, including a change of personal preference, deciding not to proceed after signing without a qualifying issue, or expectations that were not part of the original listing. However, Choice Properties remains committed to helping you find a suitable housing solution and may assist with alternative available listings when possible.
Upon selection, you will be given a specific timeframe to complete your holding deposit payment — typically 24 to 48 hours. This window is communicated to you in writing. If payment is not received within the stated timeframe, the property may be released and made available to other approved applicants, since units are offered on a first-completion basis. Extensions may be granted at the discretion of the Choice Properties team — contact us if you need more time.
Choice Properties staff retain the authority to approve refunds outside of standard timelines at their discretion in cases of documented hardship, error, or extenuating circumstances.
For holding deposit questions: support@choiceproperties.com