What does the property deposit mean?

Property security deposit refers to a sum of money that residents or tenants need to pay to the property management party when they live in a property project. Its main purpose is to ensure that residents or tenants abide by property laws and regulations, reduce the damage to property facilities and the environment during the use of property facilities, and protect the legitimate rights and interests of property management parties. Usually, the property deposit will be paid in one lump sum when you check in and refunded when you check out.

The amount of property deposit is usually calculated according to the size of the property project, room type and other factors. The higher the floor, the bigger the room, and the higher the amount of property deposit. In addition, the amount of property deposit is also related to the credibility of property management. Some well-known property management companies are considered to be more reliable because of their good management services, and the amount of property deposits collected is relatively stable.

When paying the property deposit, residents or tenants should check the amount paid and properly keep the relevant vouchers. Once there is a problem with the quality of property service, residents or tenants can complain to the property management and further confirm it according to the facts. If there is a problem, they can ask the property management for corresponding compensation. In addition, the house should be inspected with the assistance of the property management before check-out, so as to ensure that the property facilities and furniture and equipment are in good condition, so as to avoid withholding the property deposit.