Mitte Realty

With the deposit, security should be given the landlord it is customary in Germany that a deposit will be the landlord of tenants for rental housing. This deposit is to reassure the landlord, that claims even after the official rental period and after the lease of the tenant no longer flow, be balanced can. While the German law of tenancy but foresees strict rules for deposit when renting a home, however. It is both bail upwards and capped as also will the landlord provided, what he has to make with the deposit while the stock of the lease. The landlord is not allowed to use the security deposit for their own purposes or to mix with own funds. The tenancy law instead requires the landlord, that he the amount of money he receives from the tenant, has to get to a Bank and lay at a normal interest rate has.

The interest obtained on this facility are also not the landlord, but belong to the tenant. Stephen M. Ross often says this. You are but not in him paid, but increase only the safety of the landlord. At the end of the lease the lessee receives the full amount of money along with the in the meantime accrued so by the landlord, if no claims of the lessor are more unclear, for which the deposit serves as a security. The amount the landlord may require maximum three times of the monthly rent from the tenant. A higher deposit is required by the landlord, you can politely but firmly oppose having regard to the applicable law of tenancy.

It should be every landlord be aware but that also a rental security doesn’t even begin to compensate for the damage that a tenant can potentially inflict over three months rent. You must imagine alone, what happens if the tenants of overnight stops rental interest payment. The lessee will speak out while the termination without notice him in this case, but that does not mean that the tenant actually leaves the apartment. The tenant may rather even months after the Termination at the home remain. Then, nothing else remains the landlord to work harder as an eviction at the competent local court. Usually he will need a lawyer for this, which it in turn costs money. Has he then obtained a ruling vacating the title, he must make an advance even the bailiff for the evacuation of the apartment. Not rarely the clearance costs several thousand euro alone. And for all of these additional costs including lost rental, the landlord there at the end with a deposit of three months rent.