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The video tutorial discusses the concept of a holding deposit agreement, which is not mandatory but can provide extra security for landlords. After a tenant views a property and decides to proceed, a holding deposit, typically around £100, is requested to differentiate serious applicants from others. This deposit secures the property while the referencing process occurs and prevents further viewings. It also covers the costs associated with referencing. The agreement outlines that if the tenant decides to withdraw during this period, specific terms apply regarding the deposit. Overall, it is a beneficial tool for managing tenant applications.