3 Types of Mietkaution or Rental Deposit You Should Know

Mietkaution or rental deposit is a common practice in the real estate industry. It is a payment that the landlord or the owner of the building that you are going to rent use for collateral and paying other stuff for tenant needs. And, you also need to know that rental deposits are divided into several types. Here, we will learn more about that rental deposit type.

Earnest Deposit

This kind of deposit is a sign of trust between the customer and the landlord. You may have to pay it when you are interested in a property, but currently are unable to move to that property. Earnest deposit is applicable for purchasing a property. It is rare to find this kind of agreement when you only want to rent the property that you like. Therefore, it is like a down payment or reserve fee, so the owner won’t sell the property to other people.

The earnest deposit has a certain period. Once that period has ended, the money will be used for a matter that you and the property owner have been agreed with earlier. For example, you can get back the deposit or turn it into a security deposit.

Security Deposit

The security deposit is money that the landlord uses as coverage for all damage that occurs to their property. It is not only the building that you rent. If the landlord also provides furniture and other accessories on the building, this deposit also covers all of them. You can find this Mietkaution on many rented buildings.

Once your rental contract ends, there is a big chance that you will get the money that you paid for a security deposit. As long as the property you rent gets no damage and is returned in perfect condition. On the other hand, you should inform the landlord when there is damage to the property. The repair for that damage is the responsibility of the landlord by using the security deposit from you.

However, you also can try to fix the damage yourself. Make sure you take the before and after photo when you decide to fix it. Tell your landlord about this matter. You may get a refund if the property condition you repaired is much better than before.

Utility Deposit

Utility deposit covers the utilities part of the property, such as water and electricity. You are responsible for paying them every month. However, if you can’t do that, the landlord will use the utility deposit to pay it. Best of all, if you pay the bills regularly, at the end of the contract, you will get this deposit in full. As long as there is no pending payment, you will get the money back.

Conclusion

Understanding the three types of Mietkaution will help you determine and calculate how much budget you should prepare to rent and move into a property. You don’t have to hesitate to ask a professional about this matter. You will know that this kind of deposit will help you in the future.

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