Security Deposit
A refundable balance held against damage or unpaid rent.
Definition
Security Deposit is A refundable balance held against damage or unpaid rent. In day-to-day operations, it matters when money is being held against future damage, unpaid rent, or move-out deductions.
Operationally, it matters because deposit handling affects trust because residents remember the rules long after move-in. Good records tie the deposit file to inspections, charges, and the final refund decision.
Use cases
Use Security Deposit to set deposit expectations before the resident ever moves in.
Review Security Deposit when the team needs to justify deductions with inspection evidence and charge detail.
Track Security Deposit so operations can keep the refund decision tied to the same documented file from start to finish.