Step 4 – Create a holding deposit

This step will create a holding deposit invoice for your tenant from PayProp. This will include your PayProp bank details and the deposit ID your tenant will use to make any future payments to your agency.

Please note: This is an optional step and can be skipped using the ‘Skip’ button at the bottom of the form.

Create a holding deposit form

Category *	These are the invoice categories taken from your PayProp account. You will need to choose one that is appropriate for a holding deposit. If none exists you will need to log into your PayProp account and create one under 'Application settings'.
Amount *	The amount of the holding deposit.
Date *	This determines the date that the holding deposit will become due. It cannot be earlier than today.
Description *	The description is included on the invoice to the tenant. For example “Holding deposit for Rose Cottage, 1”

* Required fields

Once you are happy with the information, click ‘Create holding deposit in PayProp’, and the tenant will be invoiced on the date you selected.

Next article:

Step 5 – Damage deposits