Leaseback Deposit and Client Responsibilities 

The Seller’s Temporary Residential Lease paragraph 5 addresses the
deposit that the seller or tenant pays to the new owner or landlord.
The amount is negotiated and agreed on by both parties prior to
executing the leaseback. The purpose of the deposit is to secure the
performance of the terms and conditions of the lease by the tenant.
The tenant is financially responsible for maintaining and repairing the
property during the lease. The tenant is also responsible for rectifying
any damage done to the property during the term of the lease. The
tenant must provide their forwarding address to the landlord. The
Landlord can use the deposit to rectify any obligations under the
lease. The landlord must refund any unused portion of the deposit
within 30 days after the tenant surrenders possession of the property
as long as their forwarding address was provided.