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Security Deposit Agreement

Security Deposit Agreement Template for Ireland

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Key Requirements PROMPT example:

Security Deposit Agreement

"I need a Security Deposit Agreement for a student accommodation complex in Dublin, where deposits will be managed by a property management company and the agreement needs to cover multiple occupants per unit starting from September 2025."

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Document background
A Security Deposit Agreement is essential in Irish residential and commercial tenancies to protect both landlord and tenant interests regarding property security deposits. This document should be used whenever a security deposit is required as part of a lease arrangement in Ireland. It details the specific amount of the deposit (which for residential tenancies must not exceed one month's rent), the circumstances under which deductions can be made, and the process for deposit return. The agreement ensures compliance with the Residential Tenancies Acts and other relevant Irish legislation, including recent amendments regarding deposit caps and RTB oversight. It provides clarity on deposit handling procedures, dispute resolution mechanisms, and the rights and obligations of all parties involved. The document is particularly important given the increased regulation of the Irish rental market and the need for transparent, compliant deposit handling processes.
Suggested Sections

1. Parties: Identification of the landlord/property owner and tenant(s), including full legal names and addresses

2. Background: Context of the agreement, referring to the main lease agreement and explaining the purpose of the security deposit

3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Security Deposit', 'Property', 'Lease Agreement', etc.

4. Deposit Amount and Payment: Specifies the amount of the security deposit and payment terms, confirming compliance with legal maximum (one month's rent)

5. Purpose of Deposit: Clearly states what the deposit can be used for (e.g., damage repair, unpaid rent, utility bills)

6. Holding of Deposit: Details of how and where the deposit will be held, including any relevant bank account information

7. Conditions for Return: Specific conditions that must be met for the deposit to be returned in full

8. Deductions: Process for making deductions from the deposit and required documentation/evidence

9. Return Timeline: Timeframe within which the deposit must be returned after lease termination

10. Dispute Resolution: Process for resolving any disputes regarding the deposit, including reference to RTB procedures

11. Governing Law: Confirms the agreement is governed by Irish law and relevant legislation

12. Signatures: Space for dated signatures of all parties

Optional Sections

1. Multiple Tenants: Additional provisions for cases where multiple tenants share responsibility for the deposit

2. Guarantor Provisions: Required when a guarantor is involved in providing or guaranteeing the security deposit

3. Property Management Company: Additional terms when a property management company is involved in holding/managing the deposit

4. Interest on Deposit: Terms regarding any interest earned on the deposited amount, if applicable

5. Early Termination: Specific provisions for deposit handling in case of early lease termination

6. Assignment and Subletting: Provisions for deposit handling in case of assignment or subletting

7. Digital Communications: Terms for electronic notifications and communications regarding the deposit

Suggested Schedules

1. Schedule 1: Payment Details: Bank account details and payment reference information for the deposit

2. Schedule 2: Property Inventory: Detailed inventory of the property condition at the start of tenancy

3. Schedule 3: Deposit Deduction Schedule: Standard costs for common repairs or cleaning requirements

4. Schedule 4: Photo Documentation: Referenced photos of property condition (if applicable)

5. Appendix A: Deposit Return Checklist: Checklist of conditions that must be met for full deposit return

6. Appendix B: Relevant RTB Guidelines: Current RTB guidelines regarding security deposits for reference

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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 Lettings

Commercial Lettings

Financial Services

Legal Services

Property Development

Student Accommodation

Corporate Housing

Hospitality

Relevant Teams

Legal

Property Management

Residential Lettings

Operations

Compliance

Risk Management

Customer Relations

Administrative Support

Asset Management

Facilities Management

Relevant Roles

Property Manager

Leasing Manager

Real Estate Agent

Legal Counsel

Compliance Officer

Tenancy Relations Manager

Housing Officer

Facilities Manager

Contract Administrator

Residential Services Coordinator

Property Administrator

Letting Agent

Asset Manager

Operations Manager

Risk Manager

Industries








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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