Dear Name,
As per our standard process, we usually collect a security deposit equivalent to at least 5-6 months of rent from tenants. This deposit, which amounts to ₹______ for your property, helps cover any potential damages or rent defaults by the tenant.
However, since you have referred a tenant and negotiated a security deposit of ₹_______ which is lower than the standard security deposit, we will proceed with the same as per your instructions. We would like to inform you that, given the reduced security deposit, PropertyAngel cannot be held responsible for any rent defaults or damages to the property that exceed the deposit amount.
To minimize this risk, we usually collect 2 undated cheques from the tenant, each equivalent to 1 months' rent. The tenant has agreed/not agreed to provide these cheques for security purposes.
Kindly acknowledge your understanding of this arrangement.
Thank you for your cooperation.