Hi Ethan,

Thanks for your response,

Ethan Timor wrote:

My guess is that compensation means if the tenant damages something and pay (compensates) you for it.
I could be wrong, though, as this isn’t my area of expertise.

Yes, this is my understanding upon signing the contract too.

Just want to ensure that legally that they can’t say they are owed money according to this specific wording on my contract!

I’ve since called REIV, their response wasn’t totally reassuring; they just said that it’s not a ‘sales’ contract so it shouldn’t really matter…but wondering if I actually need advice form a solicitor or lawyer on this…