Deposit Explanation: What It Is and Why You Need It

Deposit Explanation: What It Is and Why You Need It\n\nDeposit is a sum of money paid by a tenant or customer to a landlord or business as a security or guarantee. Deposits are typically used to ensure that the tenant or customer complies with agreements and regulations while using a property, equipment, or service, as well as to cover any potential losses or damages they may cause.