A rental deposit contract is a document which is drafted to record the deposit amount which is made by the tenant to the landlord. The deposit may be used to compensate for the rental amount defaulted by the tenant or to compensate for the damage caused to the property by the tenant.
Sample Rental Deposit Contract
Rental deposit contract number: DR 56
Effective date of contract: 10th of August 2011
This rental deposit contract has been drafted and entered into between Kate Winslet referred to as the landlord residing at 23 Slow Drive Lane, New York, New Jersey 5234 and John Mayer referred to as the tenant residing at 44 Fast Drive Lane, New York, New Jersey 5252.
As per the contract the tenant has to deposit a certain amount for the property owned by the landlord and rented by the tenant for the purpose of using it as a warehouse.
The terms and conditions to be followed by both the parties are as follows:
- The tenant has to deposit an amount of $10000.
- In case the tenant fails to pay the rental amount for a certain month, the landlord has the authority to deduct that amount from the deposit.
- In case of any damage caused to the property, the damage amount will be compensated by deducting it from the deposit amount.
- The contract is valid till 10th of August 2013, after which the landlord needs to refund the deposit amount.
Signature of the landlord: Signature of the tenant:
Kate Winslet John Mayer