General information, not legal advice. This template is a starting point. Laws differ by state and city, so have a licensed attorney review your final document before you use it.
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The short version
- A deposit receipt is proof of what the tenant paid, when, and on what terms it comes back.
- Several states require a written receipt or notice that says where the deposit is held and whether it earns interest.
- A deposit is the tenant's money held in trust, not income, until lawful deductions are made after move-out.
- Pair the receipt with a move-in condition checklist and dated photos.
Why a deposit receipt matters
A security deposit receipt is a short document that confirms the tenant paid a deposit and sets out the basic terms for holding and returning it. Deposit disputes are among the most common landlord tenant disagreements, and many start with confusion about what was paid. A receipt signed by both sides settles that on day one.
When to use one
Give a receipt whenever a tenant pays a security deposit, pet deposit, key deposit or any other refundable amount, whether at lease signing or later. If the deposit is paid in parts, give a receipt for each payment or one that lists them all.
What to include
- The landlord, the tenant and the property.
- Each deposit amount, the date received and the payment method or reference.
- A statement that the deposit is refundable and is not rent.
- Where the deposit is held, if your state requires it, and whether it earns interest.
- How and when the deposit will be returned, and what may be deducted.
- Whether a move-in condition checklist was completed.
- Signatures from both sides.
State rules to check
- Deposit limits, often a multiple of monthly rent, sometimes different for furnished homes or tenants with pets.
- Receipt or notice requirements, including what the notice must say.
- Holding rules, such as a separate account, a bank in the state, or a bond.
- Interest rules and how often interest must be paid or credited.
- Return deadline and itemization, with penalties in many states for missing them.
Common mistakes
- Mixing the deposit with operating funds where the law requires a separate account.
- Collecting more than the limit, including through “non-refundable deposits” some states do not allow.
- No move-in record. Without a condition checklist and photos, deductions are hard to justify.
- Missing the return deadline, which can cost the right to keep any of the deposit and add a penalty.
Deposits in TenantLoop
In TenantLoop, security deposits post to their own liability account from the first day, so a deposit never shows up as income. The rent roll lists the deposits held for each unit, grouped by property and ready to export.
What is in the template
A receipt that records the deposit paid, how and when, where it is held, and the terms for its return, signed by landlord and tenant.
- Parties and property
- Payment received
- Where the deposit is held
- Return of the deposit
- Move-in condition
- Signatures
Read the whole security deposit receipt template
Get the file
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General template, not legal advice. Have an attorney in your state review before use.
Filling it in, and what to watch for.
Is a deposit receipt required by law?
Some states require a written receipt or a notice with details such as the bank holding the deposit. Others do not, but a receipt is good practice everywhere because it prevents disputes about what was paid.
Can a deposit be used as last month's rent?
Only if the landlord agrees. Our template says the deposit is not prepaid rent, which keeps it available for damage after move-out.
Do I have to pay interest on a deposit?
A minority of states and some cities require interest on deposits, sometimes only for longer tenancies or larger buildings. Check the rule where the home is located.
What can be deducted?
Usually unpaid rent, the cost of repairing damage beyond normal wear and tear, and cleaning needed to return the home to its move-in condition. Normal wear, such as faded paint or light carpet wear, is not deductible.