Bail bonds is what you need? We are here to help you.
Almost everyone knows the situation: Before moving into a new home, the majority of landlords pay a deposit to secure their own interests. For tenants, this payment is often an additional financial burden in an already costly move.
The deposit will be used to compensate for any damages or open payments that may arise during a rental relationship: loss of rental income, back-office payments or damages caused by the tenant, as well as cosmetic repairs that the renter does not carry out himself. The maximum sum of the deposit is limited to three monthly rentals according to § 551 BGB. It is to be paid by the renter if this is explicitly agreed in the rental agreement.
The type of rental deposit can be freely agreed by the contracting parties. It is important that tenants and landlords agree on an investment opportunity. Generally, the following forms of the rental deposit are possible:
The payment must be made in a maximum of three installments (Attention, in the case of a two-month delay, the landlord may terminate the tenancy agreement in accordance with §569 BGB without notice!). The landlord must refund the sum including interest and compound interest after termination of the tenancy, whereby he is entitled to a test and settlement period of up to six months and he may withhold a portion of the payment up to twelve months as a reserve for a pending utility bill.
To avoid annoyance, the parties should agree in advance on the handover of the apartment. So that no disputes arise later, a transfer protocol is recommended, in which differences may be recorded in writing. The aim is to secure the evidence of the transfer state, because the tenant is liable only for the damage, which are noted in the log – for subsequent complaints, the landlord can not retain part of the deposit. A “defect” is damage that goes beyond normal wear and tear such as an expired carpet or scratches in the floor.
Beware of the handover protocol is already required when moving in: The tenant should only sign if the freedom from defects is really given. All other unregistered damages are recognized by the future renter as his own and, if necessary, are liable for the bail.
All forms of deposit payments offer advantages and disadvantages. The bank guarantee and the rental deposit insurance initially relieves the tenant, but entails annual charges, whereas interest can be earned with a savings account. However, the current interest rates are low, even with usually well-interest-bearing money market accounts, so it must be weighed whether it is worth the Vorstrecken the total amount of the deposit.
Optionally, a custody account may serve as a potential alternative for rent deposit payment. Here you should be aware of the possible risks and consequential costs in case of price losses.
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