Damage Deposit Receipt

Damage Deposit Receipt Template for Malaysia

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Key Requirements PROMPT example:

"I need a Damage Deposit Receipt for my commercial property in Kuala Lumpur, which will include both a security deposit and utility deposit, starting from March 1, 2025, with the receipt to be held by a property management company."

Document background

The Damage Deposit Receipt is a essential document in Malaysian property rental transactions, required whenever a security deposit is paid by a tenant to a landlord or property manager. This document serves as official proof of payment and outlines the terms for the deposit's return or potential deductions. Under Malaysian law, particularly the National Land Code 1965 and Contracts Act 1950, this receipt forms part of the legal documentation necessary for protecting both landlord and tenant interests. The document typically includes details of the parties involved, property information, deposit amount, payment date, and conditions for return. It should be issued immediately upon receipt of the deposit payment and kept safely by both parties throughout the tenancy period.

Suggested Sections

1. Receipt Details: Date of receipt issuance and unique reference number for tracking purposes

2. Parties Information: Complete details of both landlord/agent and tenant, including full names, identification numbers, and contact information

3. Property Details: Full address and description of the property for which the deposit is paid

4. Payment Information: Amount of deposit paid, payment method, and date of payment

5. Purpose of Deposit: Clear statement that the payment is a damage/security deposit and its intended purpose

6. Return Conditions: Specific conditions under which the deposit will be returned or may be deducted from

7. Acknowledgment: Formal acknowledgment of receipt of the deposit amount by the landlord/agent

Optional Sections

1. Additional Deposits: Details of any additional deposits paid (e.g., utility deposit, key deposit) - include when multiple types of deposits are collected

2. Interest Terms: Terms regarding any interest accrual on the deposit - include if interest will be paid on the deposit amount

3. Inspection Reference: Reference to property inspection report or checklist - include when an inspection was conducted simultaneously

4. Bank Details: Details of the account where the deposit is held - include when required by local regulations or agreed between parties

5. Third Party Details: Information about any third party holding the deposit (e.g., real estate agent) - include when deposit is not held directly by landlord

Suggested Schedules

1. Payment Evidence: Copy or details of the payment transaction (check, bank transfer receipt, etc.)

2. Property Inspection Report: Initial condition report of the property at the time of deposit payment, if conducted

3. Deposit Calculation Breakdown: Detailed breakdown of how the deposit amount was calculated, especially if multiple deposits are involved

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 Property

Student Housing

Retail Space Rental

Office Space Rental

Industrial Property

Hospitality

Legal Services

Relevant Teams

Legal

Property Management

Real Estate

Operations

Administration

Compliance

Facilities Management

Asset Management

Tenant Relations

Contract Management

Relevant Roles

Property Manager

Real Estate Agent

Leasing Manager

Property Administrator

Legal Counsel

Tenancy Coordinator

Facilities Manager

Building Manager

Asset Manager

Operations Manager

Contract Administrator

Property Officer

Compliance Officer

Real Estate Consultant

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Authors

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