Rental deposit – how to get your money back
Tenants and landlords usually agree on a rental deposit, which is defined in the tenancy agreement. The amount may not exceed three months’ rent. When tenants move out, they are keen to access this money as quickly as possible. Comparis explains the ins and outs.
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Usually, landlords are required to release the rental deposit including accrued interest immediately following apartment handover. They can even approve the release of the deposit when they sign the inspection report – but only if they don't find any damage. If the tenant is obliged to pay for any damage, the landlord has two to three months in which to rectify it. During this time, the landlord can arrange for the work to be completed, wait for the invoices and provide the tenant with the final bill. Once the tenant has paid the bill, the bank must release the deposit.
Of course, the tenant is allowed to check the invoices. If the tenant does not agree with the landlord's demands, the tenant should explain in writing why not and give the landlord a deadline for releasing the deposit. If no agreement can be reached, the responsible authority for dispute resolution can be involved.
Once one year has elapsed from the end of the tenancy, the bank is required to pay out the deposit unless the landlord has initiated legal action against the tenant.
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