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Rent deposit
Anyone who signs a rental agreement usually undertakes to transfer a certain amount to a blocked account as security for the landlord, which can only be released once the agreement has been terminated. This security applies to unpaid rent, ancillary costs or damage to the rental property. Thus, care must be taken to ensure that when the landlord signs the acceptance protocol for a rental property, he also gives written release of the rental deposit if there is no damage. If damages have been caused, the landlord has three months to organize the repairs and wait for the corresponding invoices. The rent deposit may amount to a maximum of three months' rent, including the lump sum for ancillary costs. If no rent deposit is stipulated in the lease agreement, none must be deposited.
If you do not want to or cannot fall back on your savings for the deposit of the rent, you have the possibility to take out a rent deposit insurance (also called rent guarantee) with various possible providers, which covers the above-mentioned risks.
Rent deposit is a synonymous term for rent deposit.
