The Security Deposit Return Form is a crucial document used in the Philippine real estate sector when concluding lease agreements and returning security deposits to tenants. It is designed to comply with Philippine property laws, including the Civil Code of the Philippines and the Rent Control Act of 2009. This document should be used whenever a lease agreement is terminated and the security deposit is being returned to the tenant. It includes essential information such as party details, property information, deposit amount, deductions (if any), and signatures of all parties involved. The form serves as legal proof of the deposit return transaction and helps prevent future disputes by clearly documenting the final settlement between landlord and tenant. It is particularly important in the Philippine context where security deposit disputes are subject to specific local regulations and consumer protection laws.
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1. Date and Location: Current date and place where the form is being executed
2. Parties Information: Complete names and addresses of both landlord and tenant
3. Property Details: Complete address and description of the leased property
4. Lease Reference: Original lease agreement details including dates and initial deposit amount
5. Deposit Return Details: Statement of the total amount being returned and method of payment
6. Confirmation of Property Condition: Statement confirming the condition of the property upon inspection
7. Release and Discharge: Mutual release of claims related to the security deposit
8. Signatures: Space for signatures of both parties and witnesses
1. Deductions Breakdown: Itemized list of any deductions made from the security deposit, to be included if there are any deductions
2. Dispute Resolution Statement: Statement of any disputed amounts or conditions, to be included if there are any disputes
3. Forwarding Address: New address of tenant for future correspondence, if different from current address
4. Outstanding Utilities: Statement regarding status of utility payments, if relevant to final settlement
1. Schedule A - Property Inspection Report: Detailed inspection report comparing property condition at start and end of lease
2. Schedule B - Deductions Calculation: Detailed breakdown of any deductions with supporting documentation
3. Schedule C - Photos: Photographic evidence of property condition upon move-out
4. Schedule D - Receipts: Copies of receipts for repairs or cleaning if deductions were made
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