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The Deposit Rental Agreement is a crucial legal document used in Nigerian property transactions to protect both landlord and tenant interests regarding rental deposits and associated tenancy terms. This document is essential when establishing a new tenancy or modifying existing arrangements where a security deposit is required. It details the deposit amount, payment schedule, conditions for retention and return, while ensuring compliance with Nigerian federal and state property laws. The agreement typically incorporates elements from the Recovery of Premises Act and state-specific tenancy laws, making it suitable for both residential and commercial properties. The document serves as a vital reference point for dispute resolution and clearly defines the rights and obligations of all parties involved in the rental arrangement.

1. Parties: Identification of the landlord and tenant with full legal names and addresses

2. Background: Brief context of the rental arrangement and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Deposit', 'Term', and 'Rent'

4. Property Details: Detailed description of the rental property and its location

5. Deposit Terms: Amount of deposit, payment terms, conditions for retention and return

6. Rental Terms: Rent amount, payment frequency, method of payment, and review provisions

7. Term and Commencement: Duration of the tenancy and start date

8. Landlord Obligations: Responsibilities of the landlord including maintenance and repairs

9. Tenant Obligations: Responsibilities of the tenant including proper use of property and payment obligations

10. Utilities and Services: Responsibility for payment of utilities and services

11. Maintenance and Repairs: Process for reporting and handling repairs, and allocation of responsibilities

12. Termination: Conditions and process for ending the agreement

13. Notices: Process for serving notices between parties

14. Governing Law: Specification of Nigerian law as governing law and jurisdiction

15. Dispute Resolution: Process for resolving disputes between parties