Refundable Deposit

    PAYMENT

    A sum collected at move-in and returned at move-out, less any agreed deductions for damage or unpaid obligations.

    See also

    Caution Fee

    A refundable or condition-based sum held against damage, defaults, or unresolved obligations during a tenancy.

    Security Deposit

    A sum held against possible damages, unpaid bills, or contractual breaches and assessed at the end of occupancy.