The Rent Release Form is a crucial document in Saudi Arabian property management, used when a tenant vacates a rental property and both parties wish to formally conclude their rental relationship. This document, governed by Saudi Tenancy Law and Shariah principles, serves multiple purposes: it confirms the termination of the lease, documents the condition of the property upon handover, addresses the settlement of the security deposit, and provides mutual releases from future claims. The form is particularly important in Saudi Arabia's real estate market where formal documentation of lease termination is essential for legal compliance and future reference. A properly executed Rent Release Form protects both landlords and tenants by clearly documenting the end of their contractual obligations and preventing potential future disputes.
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1. Identification of Parties: Full legal names and details of both landlord and tenant, including their ID numbers/Iqama numbers
2. Property Details: Complete description and address of the rental property, including any specific unit numbers or identifying features
3. Original Lease Reference: Details of the original lease agreement including its date, term, and any registration numbers
4. Confirmation of Vacation: Statement confirming that the tenant has vacated the property and the effective date of vacation
5. Property Condition Statement: Declaration regarding the condition of the property upon handover
6. Release Terms: Mutual release of claims and obligations related to the tenancy
7. Security Deposit Settlement: Statement regarding the return or withholding of security deposit
8. Execution: Date and signature blocks for all parties
1. Outstanding Payments: Section detailing any remaining payments or settlements required, used when there are pending financial matters
2. Utility Settlements: Statement regarding the settlement of utility bills and transfer of accounts, used when utilities were in tenant's name
3. Key Return: Confirmation of returned keys and access devices, used when there are multiple sets of keys or access cards
4. Forwarding Address: New contact details for tenant, used when future correspondence may be necessary
5. Damages Settlement: Details of any agreed compensation for damages, used when property damage has occurred
1. Property Inspection Report: Detailed report documenting the condition of the property at the time of handover
2. Outstanding Payments Schedule: List of any pending payments or deductions from security deposit
3. Photographic Evidence: Photos documenting the property condition at handover (if applicable)
4. Utility Reading Records: Final readings of electricity, water, and other utility meters
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Industrial
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Relevant Teams
Real Estate
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Property Management
Facilities Management
Asset Management
Tenant Relations
Operations
Administration
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Housing
Relevant Roles
Property Manager
Real Estate Manager
Leasing Manager
Facilities Manager
Legal Counsel
Real Estate Agent
Housing Coordinator
Tenant Relations Manager
Asset Manager
Building Superintendent
Property Administrator
Compliance Officer
Real Estate Operations Manager
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