In the landscape of residential leasing, the Security Deposit Rent form, known as Form 4, stands as a crucial document that solidifies the financial obligations and rights of both tenants and landlords at the commencement of a tenancy. Essentially, this form serves as a receipt for the tenant's payment, allocating funds towards the first and last month's rent, the security deposit, and any expenses related to new locks or keys. Noteworthy is the provision that mandates the accrual of interest on the security deposit and the pre-paid last month's rent, a benefit that accrues to the tenant annually. The form emphasizes the tenant’s right to receive this interest at the end of each tenancy year or upon tenancy termination, with interest amounts prorated as appropriate. It includes a requirement for the tenant to provide a forwarding address to the landlord or the landlord’s agent for the purpose of distributing any owed interest. Furthermore, it stipulates that the security deposit must be kept in a separate, interest-bearing account, details of which—including the bank name and account number—are to be transparently shared with the tenant. This provision underlines the protective measures in place to safeguard the tenant's deposit, ensuring that it remains readily available for refund, subject to the terms agreed upon at lease termination. Form 4, therefore, encapsulates a framework designed to maintain clarity, fairness, and compliance with the law, regarding financial transactions between landlords and tenants within the leasing process.
| Question | Answer |
|---|---|
| Form Name | Form Security Deposit Rent |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | form 4 security, form security rent, form last month rent, month receipt |
Form 4: Security Deposit
and Last Month's Rent Receipt
Attach to your Lease
I hereby acknowledge receipt of $___________ to be applied as follows:
First month's rent for __________ (month) |
$ _____________ |
Last month's rent for deposit |
$ _____________ |
Security deposit |
$ _____________ |
Purchase or installation cost for new lock or key |
$ _____________ |
A tenant is entitled to interest on the security deposit and the last month's rent (paid in advance) as required by law. Interest is payable to a tenant at the end of each year of a tenancy. Upon termination of tenancy, interest shall be prorated. The tenant should provide the landlord with a forwarding address at the termination of tenancy indicating where such interest may be given or sent.
Landlord or ______________________________________ Date: ________
Landlord's Agent Signature
Address ______________________________________________________
City __________________________________ State __________ Zip ____
Phone________________________________________________________
As required by law, the security deposit is presently or will be held in a separate,
Name of bank _________________________________________________
Address ______________________________________________________
City ____________________________ State ________ Zip_____________
Account number _______________________________________________
FORM 4 • 499