deposit
An amount of money presented to the owner as a security when leasing a property.
A deposit is a predefined amount of money given, usually for the duration of the lease, to a property's owner or owner's agent by the party leasing that property. According to the terms of the deposit, it may be repaid after the end of the lease, subtracted eventually from the rent, or repaid in stages. The purpose is normally to protect the owner from unexpected costs stemming from the renter's usage of the property, such as damage and excessive deterioration.
The money is held or applied under the deposit terms associated with the lease. Its eventual return, use toward rent, or repayment in stages depends on those terms.
The deposit is distinct from the rental cost of occupying space. Its usual security purpose concerns unexpected costs from the tenant's use, rather than the price per unit of floor area.
Related definitions
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assessed value
A property value established by an official government assessment at a given time, usually for taxation. -
brokerage commission
A service fee paid to an agent for the successful completion of a transaction. -
construction cost $
The total costs of construction in US Dollars as recorded at the time of completion. -
construction cost CHF
The total costs of construction in Swiss Francs as recorded at the time of completion. -
construction cost RMB
The total costs of construction in Chinese Renminbi as recorded at the time of completion. -
construction cost £
The total costs of construction in Pounds Sterling as recorded at the time of completion. -
construction cost ¥
The total costs of construction in Japanese Yen as recorded at the time of completion. -
construction cost €
The total costs of construction in Euros as recorded at the time of completion. -
demolition cost
The amount spent or projected for a complete or partial demolition project, according to the date of the figure. -
land cost
The asking or paid price of a property's land at a given time, apart from the value of structures on it. -
property tax
The total annual property taxes levied by the applicable governments and owed by the property owner. -
renovation cost
The amount spent or projected for one renovation project, separated in time from other construction or alteration work. -
rental cost
The price charged to tenants per measured square unit to rent space in a structure. -
revenue
Monetary figures describing earnings or value received by a structure, company, land area, or other object. -
sales cost
The asking or agreed sale price of property expressed per square meter or square foot of floor space.