It is customary for a tenant to send a holding deposit in the case of a vacation rental or short term rental. A holding deposit amount should be somewhere in the neighborhood of 25% of the total cost. This is generally considered to be a fair rate.
Recommended Payment Practices
The safest ways to send holding deposits or first and last month’s rent or other security deposit payments is by Check or Money Order, PayPal or Bank Transfer. We recommend that you meet with the landlord in person and view the rentals before making any payment, but this may not always be possible in every situation, particularly if you are renting in a new city that is far from your current home. If you know someone that can meet with the landlord and view the rental on your behalf, this is always a good practice.
Discouraged Payment Practices
We do not recommend sending holding deposits or first and last month’s rent or other security deposit payments by Western Union or other Money Transfer Options. We recommend that you do not send cash.