The Rental Deposit: Why and how it is deposited

The rental deposit serves as a security for the landlord and protects against potential damages or outstanding payments after moving out. Here, you will find all the essential details about how to pay the deposit and when you will receive it back.

1. Amount and Payment Terms

The deposit must be paid as a cash deposit via bank transfer only. Deposit guarantees or sureties are not accepted.

The total deposit amounts to €750 and must be paid in two installments.

• The first installment of €375 is due upon signing the contract.
• The second installment of €375 must be transferred no later than with the second rent payment, which is approximately one month after moving in.

2. Purpose of the Deposit

• The deposit serves as security for the landlord and can be used to cover outstanding rent payments, damages to the apartment, or outstanding utility bills.
• If there are no claims, the deposit will be fully refunded after moving out.

3. Refund of the Deposit

• The deposit will be refunded as soon as possible after moving out.
• A full refund requires that no damages or excessive dirt are found.
• If there are outstanding charges from the utility bill, part of the deposit may be withheld until the final settlement.

4. Important Notes

• Please ensure that you transfer the deposit to the account specified in your rental contract.
• When making the payment, include your full name and address (or Room ID) in the payment reference to ensure proper allocation.

Conclusion

The rental deposit is a standard security measure and will be refunded as soon as possible after moving out, provided that there are no outstanding charges. By paying both installments on time, you ensure a smooth rental experience.