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Security Deposit Return Form

Security Deposit Return Form Template for Saudi Arabia

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Key Requirements PROMPT example:

Security Deposit Return Form

"I need a Security Deposit Return Form for a residential apartment in Riyadh, where I'm returning the full deposit amount of 10,000 SAR to the tenant who is moving out on March 15, 2025, with no deductions required."

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Document background
The Security Deposit Return Form is a crucial document used in Saudi Arabian real estate transactions to properly document and execute the return of security deposits at the lease termination. This form, regulated under Saudi lease law and the Ejar system, serves multiple purposes: it provides official documentation of the deposit return, records any deductions made due to property damage or outstanding payments, and offers protection for both landlord and tenant rights. The form should be completed after the final property inspection and before the tenant vacates the property or shortly thereafter. It includes detailed information about the property, original deposit amount, inspection findings, deduction justifications (if any), and the final amount being returned. This document is essential for maintaining clear records and preventing future disputes regarding security deposit returns in the Saudi Arabian real estate market.
Suggested Sections

1. Form Title and Date: Clear identification of the document as a Security Deposit Return Form with the current date

2. Property Information: Details of the rental property including full address and property reference number

3. Party Details: Complete information for both landlord and tenant, including full names, contact information, and official IDs

4. Lease Reference: Original lease agreement details including date and reference number

5. Deposit Information: Original deposit amount, date received, and receipt reference

6. Inspection Results: Summary of property inspection results and condition assessment

7. Return Amount Details: Specification of the amount being returned, including any deductions if applicable

8. Payment Method: Details of how the deposit will be returned (bank transfer, check, etc.)

9. Signatures: Space for both parties to sign and date the form

10. Confirmation of Receipt: Section for tenant to acknowledge receipt of the returned deposit amount

Optional Sections

1. Deduction Itemization: Detailed breakdown of any deductions made from the deposit, to be included when deductions are necessary

2. Dispute Notice: Information about the tenant's right to dispute deductions and the process for doing so, included when deductions are made

3. Forwarding Address: Space for tenant to provide their new address, included when tenant is moving to a new location

4. Third Party Authorization: Authorization section when someone other than the tenant is collecting the deposit

5. Outstanding Utilities: Section for confirming all utility bills are settled, included when utilities were tenant's responsibility

Suggested Schedules

1. Inspection Report: Detailed property inspection report with photos if applicable

2. Deduction Evidence: Copies of invoices, quotes, or other evidence supporting any deductions made

3. Original Deposit Receipt: Copy of the original security deposit payment receipt

4. Property Photographs: Before and after photographs of the property condition

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Management

Residential Housing

Commercial Property

Retail Property

Industrial Property

Hospitality

Student Housing

Corporate Housing

Facility Management

Relevant Teams

Real Estate Operations

Property Management

Leasing

Legal

Finance

Tenant Relations

Compliance

Asset Management

Facilities Management

Documentation

Relevant Roles

Property Manager

Real Estate Manager

Leasing Agent

Property Administrator

Facility Manager

Real Estate Operations Manager

Tenant Relations Manager

Housing Coordinator

Legal Compliance Officer

Rental Collections Specialist

Property Inspector

Asset Manager

Real Estate Administrator

Lease Administrator

Industries
Saudi Lease Law (2020): The primary legislation governing rental relationships in Saudi Arabia, including provisions for security deposits, their management, and return conditions
Ijara (Islamic Lease) Regulations: Islamic principles governing lease agreements and financial transactions, which must be compliant with Shariah law
Saudi Civil Code: General principles of contract law and obligations in Saudi Arabia that apply to rental agreements and security deposit arrangements
The Rental Services Network (Ejar) Regulations: Electronic platform regulations that standardize rental procedures and documentation in Saudi Arabia, including security deposit handling
Saudi Consumer Protection Law: Regulations protecting tenant rights and ensuring fair treatment in financial transactions, including security deposit returns
Saudi Arabian Monetary Authority (SAMA) Regulations: Financial regulations governing monetary transactions and banking procedures for security deposits
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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