When you apply for a Tricon home, you’ll be prompted to pay an application fee of $55 or less per applicant, depending on the state, and a $250 refundable holding deposit for the home.

The refundable holding deposit removes the home from the market while your application is being processed. If your application is approved and you move in, the $250 holding deposit is applied toward your first month’s rent. If your application is denied, the refundable holding deposit will be refunded, typically within 3–5 business days.

If your application is approved and you choose not to move in, Tricon may retain the holding deposit.