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Reporting this answer: The landlord has accepted an application from a potential tenant. However, nothing has yet been signed so all that exists is an understanding ("gentleman's agreement") between the two parties that the property will be rented to the potential tenant. Legally, there's nothing stopping the landlord (or tenant) from changing their mind and pulling out, or for another third-party to be cheeky and put in a higher offer of rent to try and persuade the landlord to rent the property to them instead.

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