Are you moving to a new house? If you’re interested in deposit-free renting, access through Ocyan the rental deposit guarantee and instead of money, deposit the guarantee certificate. Lets’ connect…
Moving to a country like Germany can be exciting – whether you’re relocating for higher education or to secure a job! And out of all the formalities that you need to carry out, finding the perfect house in an idyllic location and with affordable rent is of utmost importance. But before you sign the lease and move in, there is quite a lot that you need to know about, and that includes the rental deposit guarantee!
Here’s everything that you need to know about rent security deposit.
What Is Rental Deposit Guarantee? Why Does One Have To Pay It?
While renting out an apartment, landlords may require the tenants to pay an amount known as the Kaution or the rental deposit. It protects the landlord from:
- Tenant’s refusal to pay rent in the future
- Tenant’s refusal to pay for utilities in the future
- Damage to the property during the tenant’s stay
Simply put, it covers any kind of financial obligations or liabilities that the landlord will have to bear in case the tenant refuses to meet them.
How Much Is The Mietkaution?
Under Germany’s rent deposit scheme, the maximum rental deposit, or Mietkaution, amounts to three months’ worth of cold rent. As a tenant, you have all the rights to deny paying more than this amount.
Additionally, Section 551(3) of the German Civil Code states that landlords must keep this rent deposit separate and safe and not mix it with their personal assets. And you can work out an agreement with your landlord to invest this money anywhere that seems feasible.
What Is Rental Deposit Guarantee? How Does It Help Expats?
Naturally, paying a large sum while moving in can cause quite a strain on your budget.
As per Section 551(2) of the German Civil Code, you have the option to pay this sum in three equal monthly instalments. This way, you pay one-third at the time of the commencement of the lease, one-third while paying the first month’s rent, and one-third while paying the second month’s rent.
Save Your Deposit Now With Rental Deposit Guarantee
With rental deposit guarantee scheme, you ensure liquidity and financial freedom. This is the best solution for a stress-free arrival into your new home.
How Does Rental Deposit Guarantee Work?
You pay a small premium to the insurance instead of paying the renter a deposit of up to three months’ cold rent. Simply order online the guarantee certificate using the application form and give your householder the certificate instead of the deposit.
Subscribe for free on Ocyan and save yourself the rental deposit with Germany’s most secure rental guarantee.
Paying the rental deposit can be quite a financial burden. Even if you are in a position to pay it, you can consider a rental deposit loan from trusted financial institutions, like Kautionsfrei and ensure the liquidity of cash. Kautionsfrei offers rental deposit support quickly, easily, and safely.
Access Kautionsfrei throught Ocyan for a free quote and also enjoy the following benefits offered by Kautionsfrei:
- Expert protection from Germany’s safest rental deposit
- No hidden costs and 6 months of free liability insurance
- Guarantee certificate within two days
- Payment of contributions in the event of job loss
- Can be canceled at any time
OCYAN also offers a wide range of financial services that support expats in several ways.
Rental Deposit Guarantee Helps Expats
This system is also known as Mietaval or Mietbürgschaft or Mietkautionskonto.
Such businesses offer rental support by paying your security deposit upfront and extending a rent deposit loan at small investment loan rates. The process involves minimal documentation and quick processing that makes it virtually painless. Thereafter, you can pay back the rent deposit loan in smaller instalments over a few months.
Fortunately, rental support acts as a lifeline for expats, who are often on the move and not very keen on putting all their eggs in the same basket. Such value-added services offer you greater liquidity where you can invest your money on other items of priority for sustenance. Ocyan has tons of resources that you can access by subscribing for free!
When Do You Get Your Kaution Back?
When you vacate the property, the landlord will return your rental deposit within six months, after highlighting all the deductions made in case of damages.
The perfect Housing Solution At Hand
It’s time to find the perfect house! Read this article to access useful links to find the best accommodation for you. Ocyan has divided the types of accommodations based on your preferences.
Hello From OCYAN!
The rental deposit support makes it more feasible for you to find the perfect housing solution without making any compromises. Subscribe for free on Ocyan and apply for rent deposit support online. It’s easy and ensures liquidity and financial freedom.
At OCYAN you can connect with the best providers that offer you secure rental deposit guarantee, household and third-party liability insurances that can lower vastly the upfront costs, your stress and the hassles of the relocation.
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