What is the purpose of a deposit?
When you move into a temporary apartment you have to expect additional costs of a deposit. This serves as security for landlords in case the rent is not paid or in case of damages in the apartment for which the tenants are responsible.
How much is the deposit?
Generally the deposit is 1-2 months rent for furnished apartments. However, this also varies based on the length of the lease. The shorter you live in your new temporary home, the higher the chance for a lower deposit.
Usually the deposit is paid by bank transfer or wire transfer when the lease is signed.
Refund of the deposit
If you did not cause any damage when you moved out, you can expect to get your deposit back within one month, but if damage was caused, it may take longer. The refund of the deposit is defined in the German Tenancy Law, so you do not have to worry that your landlord will not refund your deposit.
Moreover, in about 97% of all furnished rentals, there are no problems when the temporary tenants move out. In only about 3% there are discrepancies. To avoid these, we have a blog on the subject of ‘Liability insurance for tenants’ which explains in more detail how to protect yourself and what to do in the event of a claim.
- Read your lease carefully, there you will find all contractual agreements and it prevents misunderstandings
- In case of damage, report it in time to your insurance company and inform your landlords
- Do not throw parties in your temporary home. This will not only do your neighbors a favor and avoid complaints about disturbance of the peace, but also your furniture.
- Clean your apartment regularly and thoroughly. This will save you money on the final cleaning
- Create an apartment handover protocol