In plain English
The deposit is money the tenant paid and that has been kept while the tenancy was in place. Deposit release means giving that held money back to the tenant.
In context
Here, "deposit release" labels the action to start or authorize returning the held tenancy deposit money to the tenant.
- Situation
- Managing move-in, move-out, inventory, keys, deposits, and condition reports
- What it communicates
- labels the action to start or authorize returning the deposit.
Meaning limits
The term itself does not establish how much of the deposit money is returned.
Examples
“After the final inspection, the tenant accepted a partial deposit release from the tenancy deposit held during the lease.”
“Once the deductions were settled, both parties approved the deposit release.”