The Damage Deposit Receipt is a critical document in Philippine property rental transactions, required whenever a security deposit is collected from a tenant. This document, which must comply with local property laws and the Rent Control Act, serves as official evidence of the deposit payment and establishes the terms for its management. It typically includes the date of receipt, parties' information, property details, deposit amount, payment method, and conditions for return or deduction. The receipt protects both landlord and tenant interests by clearly documenting the transaction and setting expectations for deposit handling. It's particularly important in the Philippine context where security deposits are commonly required for both residential and commercial properties, and specific legal requirements govern their collection and return.
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1. Receipt Information: Date of receipt, receipt number, and location where issued
2. Parties' Details: Complete names and addresses of both the landlord/property manager and tenant
3. Property Information: Complete address and brief description of the leased property
4. Deposit Amount: The exact amount received, both in numbers and words
5. Payment Method: How the deposit was paid (cash, check, bank transfer, etc.)
6. Purpose and Terms: Statement explaining this is a damage/security deposit and the conditions under which it may be used or returned
7. Return Conditions: Specific conditions and timeline for the return of the deposit
8. Signatures: Space for dated signatures of both parties and witnesses if required
1. Itemized Deductions: To be used when the landlord wants to specify potential deductions that may be made from the deposit
2. Property Condition: Brief description of the current property condition, to be used when wanting to establish a baseline for future damage assessment
3. Related Lease Reference: To be included when the deposit receipt is being issued in connection with a specific lease agreement
4. Government Compliance: Additional section for including specific regulatory compliance statements required by local authorities
1. Property Inspection Checklist: Detailed checklist documenting the current condition of the property and existing damage if any
2. Photo Documentation: Dated photographs of the property condition at the time of deposit payment
3. Payment Evidence: Copies of checks, bank transfer receipts, or other payment documentation
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