Deposit and Deposit Statement: Info for Landlords

Overview

How much should the landlord ask for as a security deposit for a furnished temporary apartment?

Most landlords require 1-2 warm rents. The security deposit is often dependent on the rental period, or the number of people etc.

Can the landlord ask for a higher security deposit if the tenant brings a dog?

If permission has been given in the rental agreement for a dog to move in with you, it is possible to take additional insurance and demand a higher security deposit.

When does the tenant pay the security deposit?

The security deposit is normally due upon signing the contract. The tenant transfers it either to the account of the landlord, or to that of the agency.

Does the landlord have to put the deposit in a savings account and pay the tenant interest?

This is usually the case for unlimited tenancies. In the case of temporary housing, however, it's more uncommon, as it's too expensive. Not to mention that current interest rates no longer make it worth the extra cost.

Should the landlord also accept a temporary bank guarantee?

Some tenants offer a bank guarantee instead of paying a deposit. The bank guarantee is a kind of loan for which the tenant pays annual fees. These are not suitable for temporary rentals. This is due to the fact that the bank may refuse payment to the lessor, e.g. in the event of damage to the furniture, if this liability is not covered by the certificate of guarantee. The landlord would also not have immediate access to the deposit, even for final cleaning. Bank guarantees are more suitable for unfurnished, long-term rentals.

Does the landlord create a deposit statement?

As a landlord, you have to create a deposit statement. At the tenant's request, they should also be able to invoice for expenses such as final cleaning or repairs.

By when should the landlord refund the deposit to the tenant?

When renting for a limited period, the landlord should return the deposit to the tenant as soon as possible. The landlord can also settle a deposit statement once they have received all the bills.

What happens to the deposit if there is damage in the apartment?

If the tenant has caused the damage, the refund will not be made until the damage has been repaired or everything has been cleared. Landlords should note that you can claim the repair costs for damage, but not the new purchase. If, for example, there is damage to a property and it has to be replaced, the landlord can only invoice you for this on the basis of the current value. If you have any further questions on this matter, you should contact your temporary housing agency.