Updated July 11, 2022
A key deposit receipt is a written acknowledgment that a person has been given a set of keys for a monetary deposit. The receipt informs the key holder that if they do not return the keys after the agreed-upon date, their deposit will be forfeited.
This is common in landlord-tenant relationships, hotels, and other situations where keys are needed to be returned by the holding party. The receipt will be provided to the holding party following payment and it will include the deposit amount, names and addresses of both parties, and instructions detailing when the keys must be returned.