historyLast Updated: January 2026 (Applies to 2026 Academic Term)

verified_userCERTIFIED STUDENT DEPOSIT FRAMEWORKgavelSri Lanka Tenancy Standard

Refund Policy & Key Money Protection

අත්තිකාරම් මුදල් ආපසු ගෙවීමේ ප්‍රතිපත්තිය සහ ශිෂ්‍ය තැන්පතු ආරක්ෂණ නීතිරීති

Standardized deposit recovery rules, 48-hour cool-off guarantees, and damage claim resolution established across Sri Lankan university zones (SLIIT, Kelaniya, Japura, Moratuwa, NSBM, and Colombo Campus hubs).

Resolution GuaranteeEscrow Active

100% ReturnEligible within 48-hour cooling period or severe listing mismatch

Average Resolution Time24 – 48 Hours

report_problemFile Deposit Dispute

1

Scope & Marketplace Role

Boarding.lk operates as Sri Lanka's specialized discovery network and peer-to-peer facilitation platform for private student accommodation, boarding houses (බෝඩිම් කාමර), annexes, and self-contained units.

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Direct Contracting and Verified Directory Model

While Boarding.lk provides landlord identity verification (NIC verification) and binding tenancy agreement models, the monetary payment of deposits remains a direct legal arrangement between landlord and tenant. This policy forms the enforceable Standard Code of Conduct applicable to all verified properties advertised on this portal.

check_circleWhat We Enforce

Standard deposit deduction rules, listing suspension of defaulting landlords, formal arbitration facilitation, and verification blacklisting.

infoWhat Students Must Do

Inspect the physical premises before cash transfer, insist on signed cash vouchers or bank slip remarks, and never wire advance fees blindly.

2

Key Money (අත්තිකාරම් මුදල්) Regulations

In the Sri Lankan rental market, "Key Money" or "Advance" is frequently conflated with non-refundable goodwill fees. Under the Boarding.lk Fair Rent Standard, Key Money is classified exclusively as a Refundable Security Deposit (ආරක්ෂිත තැන්පතුව) held against property damage and unpaid utility bills.

Single Student Roomssingle_bed

Max 1 Month Deposit

For individual boarding rooms with shared facilities, landlords are prohibited from demanding more than one (1) month equivalent rent as refundable key money.

Independent Annexesapartment

Max 2 – 3 Months Cap

For private annexes with dedicated CEB/NWSDB utility sub-meters, landlords may request up to 3 months' deposit, fully refundable within 7 business days of vacating.

verified100% Refund Obligation Rule

Landlords are strictly obligated to disburse the net remaining deposit at the exact moment of physical key handover, provided the tenant has fulfilled the formal notice window and settled prevailing electricity, water, and waste bills.

3

Refund Eligibility Matrix

Standard 2026

The eligibility of deposit and booking fee refunds is dictated by clear event triggers and verifiable cancellation notification timelines:

Cancellation Scenario	Timeline Window	Refund Entitlement	Disbursement Timeline
check_circleCooling-off Period Written withdrawal after payment	Within 48 hours of initial advance payment	100% Full Refund	Within 48 Hours
emergencyMisrepresentation Photo mismatch, unlivable conditions	At initial check-in inspection	100% Refund + Incident Escalation	Immediate (Same Day)
scheduleEarly Pre-Move Cancellation Change in academic term/university admission	7+ days prior to scheduled check-in	75% Partial Refund(25% retained for vacancy holding)	Within 5 Working Days
scheduleLate Pre-Move Cancellation Short notice tenant withdrawal	Less than 7 days prior to check-in	50% Refund Cap	Within 7 Working Days
cancelTenant Unannounced No-Show Failure to report or reach out	On or after scheduled check-in date	0% (Deposit Forfeited)	No disbursement

4

Move-Out Notice & 30-Day Rule

To guarantee that landlords can release 100% of the key money without unexpected friction, students and young professionals must observe the standardized 30-Day Notice Rule.

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WhatsApp Validity

Formal notices transmitted via WhatsApp or SMS to the landlord's registered phone number constitute valid legal documentation under this policy.

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1-Month Cycle

Notice must be served prior to the start of the final rent cycle. For example, to vacate on March 31, notice must be served by February 28.

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Rent Offsetting

Key money may be converted into the final month's rent payment upon explicit written mutual consent of both parties.

Mandatory Handover Checklist (අත්සන් කර බාරදීම):

checkRecorded reading of sub-meter for electricity and municipal water meter on vacating day.
checkInspection of room fixtures: ceiling fans, wall switches, door locks, and glass window louvers.
checkSigning of the digital or paper Deposit Release Voucher confirming no further claims exist.

5

Property Damage Deductions & Inspection Protocol

Deductions from the tenant's key money are lawful ONLY when addressing direct tenant negligence, missing assets, or unpaid utility balances. Normal wear-and-tear cannot be penalized.

check_circleAllowable Deductions

• Unpaid CEB / LECO electricity bills (pro-rated to exit date)
• Broken window panes, shattered mirrors, or doors
• Damaged plumbing, broken faucets, or clogged cisterns
• Severe permanent wall defacement beyond common nail marks

blockUnlawful / Prohibited Deductions

• Gradual paint sun-fading or standard atmospheric weathering
• Replacement of aging pre-existing electrical ballasts
• Routine property cleaning fees not agreed in writing
• Generic re-letting or listing commission costs

6

Landlord Cancellation & Default

Should an owner or landlord renege on an accepted booking advance, re-rent the room to another candidate for a higher rate, or fail to make the premise habitable on the contract date:

assignment_return

Double Advance Restitution Guarantee

Under the Boarding.lk Landlord Code, arbitrary unilateral cancellation by the host requires an immediate 100% full return of deposit within 24 hours. Repeat offenders receive an immediate strike, revoking their "Verified Host" badge and preventing future ad submissions.

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CRITICAL FRAUD WARNING

Never Transfer Funds Before Physical Inspection

languageසිංහල උපදෙස් (Sinhala Guide)

කිසිඳු හේතුවක් මත, ඔබ අදාළ බෝඩිම හෝ ඇනෙක්සිය පෞද්ගලිකව ගොස් පරීක්ෂා කිරීමට පෙර EzCash, mCash හෝ නාඳුනන පුද්ගලික ගිණුම්වලට අත්තිකාරම් මුදල් (Advance) බැර කිරීමෙන් වළකින්න. වංචාකරුවන්ගෙන් ප්‍රවේශම් වන්න.

translateEnglish Instructions

Never transfer booking tokens via wallet apps without visiting the premise in person and verifying the landlord's national identity card (NIC). Report suspicious hosts claiming to be overseas or demanding instant wire transfers.

Emergency Platform Hotlinecall+94 78 673 3237

Fraud Incident Escalationsmailathulasiriproduction@gmail.com

7

Platform Dispute Resolution Process (CDR)

If your landlord has withheld your refundable key money unfairly or cancelled a verified reservation, file an expedited claim through our Case Dispute Resolution (CDR) team.

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Official Tenancy & Refund Agreement (2026 Model)

Sinhala / English Bilingual PDF Template for student rentals

gavelSubmit Deposit Arbitration Request

Free Student Service

Frequently Answered Questions

What if my landlord refuses to return my deposit claiming paint damages?expand_more

Under Section 5 of this code, standard nail holes and ordinary weather aging do not warrant complete deposit retention. Landlords must furnish itemized official painter receipts and allow the tenant to inspect or hire independent repair before deducting more than 2,000 LKR.

How does Boarding.lk penalize dishonest or fraudulent landlords?expand_more

Hosts verified to have confiscated key money without valid basis will have all current active listings delisted from university zones immediately. Their verified status is revoked and their contact details flagged across partner student unions.

Does this policy apply to hostels near SLIIT, NSBM, and Kelaniya?expand_more

Yes, this standard framework operates across all university vicinity boardings registered in the Colombo, Malabe, Homagama, Kelaniya, Nugegoda, and Kandy municipal regions.

Need Advice Before Paying a Deposit?

Speak with our tenant welfare representatives before signing a rental deal or handing over cash. We will review your agreement clauses free of charge.

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