Deposit / Guarantee
The guarantee’s purpose is to cover any damage caused by the tenant during the duration of the stay or if the latter does not abide to rental termination clauses.
The guarantee has 2 main forms
- a 2-months rent blocked deposit account (money is kept on a bank account in the name of the tenant for the entire duration of the contract) or
- a bank guarantee (3 months rent maximum) where no money is blocked but the bank is guarantor for the amount.
The first option is the most common. By no means give cash to the owner as a deposit.