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Establish the balance
Review the lease, original receipt and agreed changes. Record the original amount, adjustments already established and current balance. Do not treat possible future repairs as settled deductions before the relevant assessment.
Reconcile buyer and seller
Specify who receives the money and when, or identify an explicit credit in the sale settlement. A credit needs an amount and acknowledgement; “deposit included” is unclear. Align the arrangement with the tenancy and applicable law. A change of rent account alone does not resolve every question about transferring obligations.
Inform the tenant
Provide the confirmed balance, handover date, contact and party handling the eventual refund through the appropriate process. Keep the confirmation. List advance rent, current rent and the deposit separately. A clear record helps the tenant and both owners reconcile the same money when the tenancy eventually ends.
When the tenancy eventually ends, see Request Your Rental Deposit Back.
Sources checked 4 November 2026: Office of the Consumer Protection Board: residential rental contract guidance, May 2026.
Ownership, tax and visa rules change and individual situations differ. This is general information, not legal advice — confirm with a qualified professional before acting.
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