Issuing a security deposit receipt may be a legal obligation of the landlord in some areas yet not required at all in other jurisdictions.
Regardless of whether you are required by law to do so or not, keeping written proof of all your transactions or communications with your tenant, is highly recommended.
Please note the reference to depositing money in an interest-bearing escrow account in our guidelines and be sure to verify whether that is a legal requirement in your jurisdiction.
You may want to refer to our Security Deposit page for additional information and legal guidelines, before using the free receipt template provided here.
It's always advisable to consult with a real estate attorney in your area to ensure your legal forms are comprehensive and valid.
NOTE: Visit our main Real Estate page for links to many more free landlord forms and their guidelines.
Date: Security Deposit Receipt No.
Receipt is hereby acknowledged of the sum of $___ (_________________ dollars) as payment for the security deposit of the Property detailed above. The total amount referenced above is made up as follows:
Security Deposit: $_____________
Key Deposit: $_____________
Pet Deposit: $_____________
In his/her capacity as:
The security deposit shall be held in the following escrow account:
and shall accrue interest during the rental term at a rate of ____% per annum, subject to interest rate fluctuations at this finance institution.
IMPORTANT NOTICE TO TENANT:
It is a duty of the Tenant to supply a forwarding address to the Landlord upon moving out, to which any notices or refunds can be sent. The security deposit less any deductions provided for in the lease and by law shall be refunded to the Tenant within _____days of the Tenant vacating the rental property by mutual agreement of Tenant and Landlord or within ______days of the end of the rental term - subject to a forwarding address being provided by the Tenant.
(_)Cash (_)Cashier's Check (_)Electronic Fund Transfer(EFT)
(_)Money Order #__________ (_)*Personal Check #__________
* A personal check becomes valid tender only when cleared through the finance institution.
Security Deposit Notes:
We have made provision in our Security Deposit Receipt template for a breakdown of the deposit fee. It may guard against disputes at a later stage as to what amount should be held back for cleaning, lost keys or remotes etc.
Some landlords also ask for a move-in deposit to cover repairs to the building during the move in process. It is probably best to provide a separate receipt for this money since it has to be refunded as soon as there has been no proven damage. (Keep proof of the refund.) This makes the accounting at the end of the tenancy a lot easier.
We have also made provision on the payment receipt sample to specify the interest as well as the escrow account details, which can be omitted if not required.
The receipt also clearly shows the notification by the landlord to the tenant regarding a forwarding address. On the landlord's copy of the receipt he could have this notice initialed by the tenant to show acknowledgement of this notice.