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I am studying the software product meant for the property management. I have an account on the web site, and the section "Payment terms" is a real Greek to me.

As fas as I understand, the property rent fee could be paid in parts, and the fields which I am asked to fill up for this are:



payments :


due


amount


deposit :


days weeks
after booking date

%

balance :



days weeks
before start of stay


calculated by system

breakage dep :



days weeks
before start of stay

% $ (USD) per booking

breakage return :



days weeks
after end of stay


calculated by system

I have no idea what "deposit", "balance", "breakage dep" and "breakage return" mean Emotion: sad

Many thanks to people who can assist me in understanding.




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Deposit is an initial payment required as surety for completion of the rental contract (which will possibly be equal to about 2 months' rent). It will be eventually be applied to the rental fee.

Balance is the rest of the (pre-?) payment required by the rental agreement.

Breakage dep(osit) is an additional amount required as surety against breakage or damage to the property.

Breakage return is the part of the breakage deposit which will be returned to the lessee at the end of the rental contract. It is usually less than the original deposit by the amount of 'normal wear and tear', unless actual damage has occurred.

(My definitions are open to considerable amendment, as there is a large variety of lease agreements.)
Comments  
Thanks! You helped a lot! [A]