Security Deposit Return Letter

Security Deposit Return Letter Template for Canada

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Key Requirements PROMPT example:

"I need a Security Deposit Return Letter for returning a full security deposit of $2,000 to a tenant who maintained the property well and is moving out on March 15, 2025; the letter should include interest calculations as required by Ontario law."

Document background

The Security Deposit Return Letter is a crucial document in Canadian residential and commercial property management, required when terminating a lease agreement and returning a tenant's security deposit. This document must comply with specific provincial regulations regarding deposit returns, such as Ontario's Residential Tenancies Act or British Columbia's Residential Tenancy Act, which mandate specific timeframes and procedures for deposit returns. The letter serves multiple purposes: it documents the return of the security deposit, details any deductions made, includes interest calculations where required by law, and provides a formal record of the transaction. It helps prevent future disputes by clearly documenting the final settlement of the security deposit and should be used whenever a tenancy ends and a deposit is being returned. The document is particularly important in jurisdictions where formal documentation of deposit returns is required by law.

Suggested Sections

1. Sender's Information: Full name, address, and contact details of the landlord/property manager

2. Date: Current date when the letter is written

3. Recipient's Information: Full name and forwarding address of the tenant

4. Property Reference: Address of the rental property and dates of tenancy

5. Security Deposit Details: Original amount paid, date received, and any interest accrued

6. Inspection Results: Brief summary of the property's condition upon move-out

7. Return Amount Calculation: Breakdown of the deposit amount being returned, including any deductions if applicable

8. Payment Method: How and when the deposit will be returned

9. Closing Statement: Standard closing text confirming the end of tenancy obligations

10. Signature Block: Space for landlord's signature and date

Optional Sections

1. Deduction Details: Detailed explanation of any deductions made from the deposit, including repair costs and cleaning fees. Include when deductions are being made from the deposit.

2. Dispute Resolution Information: Information about the tenant's right to dispute the deductions and the process to do so. Include when deductions are being made.

3. Forwarding Address Confirmation: Confirmation of the tenant's new address where the deposit will be sent. Include when payment will be mailed rather than transferred electronically.

4. Outstanding Utility Reconciliation: Information about any pending utility bills or reconciliations. Include when there are outstanding utility matters.

5. Key Return Confirmation: Confirmation of all keys being returned. Include when key return needs to be documented.

Suggested Schedules

1. Move-out Inspection Report: Detailed inspection report documenting the condition of the property at the end of tenancy

2. Photographic Evidence: Photos documenting any damage or conditions leading to deductions

3. Repair/Cleaning Invoices: Copies of invoices or estimates for any repairs or cleaning being deducted

4. Initial Security Deposit Receipt: Copy of the original security deposit receipt for reference

5. Interest Calculation Sheet: Detailed calculation of interest earned on the security deposit where applicable

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Management

Residential Housing

Commercial Real Estate

Student Housing

Senior Living

Multi-family Housing

Property Services

Real Estate Investment

Rental Property Management

Relevant Teams

Property Management

Leasing Operations

Real Estate Operations

Tenant Relations

Legal

Administrative Services

Financial Operations

Residential Services

Document Control

Compliance

Relevant Roles

Property Manager

Leasing Manager

Real Estate Manager

Building Superintendent

Landlord

Property Management Administrator

Tenant Relations Coordinator

Real Estate Administrator

Housing Coordinator

Lease Administrator

Property Management Executive

Real Estate Operations Manager

Residential Services Manager

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Authors

Alex Denne

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