What is meant by Deposit management?
Deposit management refers to the process of organizing, monitoring, and administering rental deposits in real estate management. It encompasses the legally compliant handling of deposit payments, refunds, and interest calculations, as well as the documentation of all related processes.
Typical software functions in the area of "Deposit Management":
- Deposit Recording: Digital capture and management of deposit agreements and amounts.
- Automatic Interest Calculation: Calculation and crediting of interest on deposited security deposits.
- Installment Payment Management: Administration of deposit payments in installments.
- Document Generation: Creation of deposit certificates and statements.
- Refund Management: Processing of deposit refunds at the end of tenancy.
- Reporting: Generation of reports and overviews of the deposit inventory.
