What is this Rent Deposit Agreement for?
You can use this document with a lease, where the tenant pays a rent deposit to the landlord who places the deposit in a bank account and holds it on trust for the tenant.
The landlord can use the deposit if the tenant defaults. Otherwise the landlord must return the deposit to the tenant at the time specified in this document. And the tenant is entitled to the interest earned on the deposit account.
You need this document if you are a landlord wanting to formalize the terms under which you hold a tenant’s deposit.
What detailed terms does it contain?
This five page document contains 12 clauses covering
- definitions and interpretation
- repayment of the deposit
- statement of deposit account
- change of landlord
- miscellaneous (including a liability clause)
- applicable law
- Contracts (Rights of Third Parties) Act 1999
For more information on each of these sections, see our Explanatory Notes which you will receive when you download the document from our website.
When I download the document, can I change it and/or use it more than once?
Yes, all ContractStore’s templates are in MS Word and you can use the document on more than one project. For more information, watch the video on this page of our website or see our FAQs
ContractStore supplies templates and is not a law firm. But all our templates are written by experienced lawyers so we can arrange legal assistance for customers who need special terms in one of our documents or a bespoke template. For more information see our Legal Services page.
And if you want to contact us see our Contacts page.
If you have any questions about a contract and/or want to see the Explanatory Notes before you buy, please let us know by using our contact form
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