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Rent deposit

Haus und Geld | pixabay

At last - your first own apartment! Now some costs will arise. Not only the first rent has to be paid, but frequently also a rent deposit. But what is that anyway?

 

What is a rent deposit?

Landlords or landladies can demand a rental deposit if they rent out an apartment or a room. This is a sum of money that they use as collateral to cover open claims or possible damage to the apartment after the end of the lease. If there are no open claims or damages, you will get the deposit back. According to law, the rent deposit mustn’t exceed three net rents. If the landlord or landlady requires more than three net rents, you don’t have to pay the excessive amount. A rent deposit must only be paid if the amount, kind and method of payment are expressly agreed upon in the lease.

 

When do you pay the rent deposit?

At the latest at the beginning of the tenancy, the landlord or landlady must receive the deposit. If you pay in cash or by bank transfer, you can split the deposit into three equal instalments. These are paid off together with the first three months' rent. An instalment payment mustn’t be prohibited by the landlord or the landlady, but he or she must be informed beforehand in any case.

 

What happens if the rental deposit is not paid?

If the rental deposit isn’t paid, the landlord or the landlady may terminate the lease extraordinarily without notice. A prior warning is not required.

Conditions for termination without notice:

• The payment of a rental deposit was expressly agreed upon in the lease.

• You are in arrears with the payment of the deposit of at least two months' net rent.

• The reasons for termination must be explicitly stated in the notice of termination.

If you subsequently pay the rent deposit, this may lead to the termination becoming ineffective.

 

When will you get the rental deposit back?

The landlord or landlady is granted a period of six to twelve months to check whether there are open claims. Open claims can be:

• Arrears with the rental payment (net rent)

• Arrears with the payment of incidental costs (operating costs)

• Intentional or unintentional damage to the living space caused by improper handling, which must be repaired

• Agreed cosmetic repairs (this includes the final cleaning) were not carried out before moving out.

If there is an open claim or damage after the termination of the lease, the rent deposit may be partially or even completely withheld.

 

Special features of the rent deposits of the Studentenwerk Hannover:

• a transfer to a non-EU country is not possible

• no interest

 

Contact

Studentenwerk Hannover
Student Accommodation Dept.

Jägerstraße 5
30167 Hannover

Phone +49 511 76-88 048
Phone +49 511 76-88 029
Phone +49 511 76-88 972
Fax +49 511 76-88 949

E-mail
Office hours