Security Deposit Records Clause Samples
The Security Deposit Records clause outlines the requirements for documenting and maintaining records related to security deposits held by a landlord or property manager. Typically, this clause specifies what information must be recorded, such as the amount, date received, and the account where the deposit is held, and may require providing receipts or statements to the tenant. Its core function is to ensure transparency and accountability in the handling of security deposits, thereby protecting both parties and reducing disputes over deposit management.
Security Deposit Records. Manager shall, on behalf of Owner, maintain detailed records of all security deposits and such records will be open for inspection by Owner's employees or appointees. Manager shall maintain such security deposits as required by applicable law and the terms of the leases, as approved by Owner.
Security Deposit Records. 20 Section 9.3 Owner to Have Access to Funds............................................................ 20