BELFIUS rental guarantee

Belfius bank is in 2nd position on the Belgian bancassurance market. With its experience and customer satisfaction, 1 in 3 Belgians trust it. Belfius has 611 branches, more than 2,000 customer-oriented specialists and more than 3.6 million customers. Bank Belfius is a driving force behind the Belgian economy.

A partner of both the public and social sectors, the Belfius bank offers its banking and insurance services to the private and entrepreneurial market. A branch offering private banking is also being developed by the bank for clients with more than 2.5 million euros in assets. His appetite for digital marketing puts banking at the forefront of the mobile phone with more than 1.4 million users.

The rental guarantee has been put in place to protect the owner from the default of his tenants and the risks associated with the rental. It is framed by law but it is not compulsory. It is imposed in most residential leases. To find out if your lease contract is subject to a rental guarantee, all you have to do is read it and find out how the tenant’s commitments are guaranteed.

The Rent Act provides that the tenant’s guarantee can be provided by freezing a sum of money in a dedicated bank account. Belfius bank offers this service for opening an individualized bank account for the rental guarantee. The individualized account opened with the Belfius bank to house the amount of the guarantee is in the name of the tenant. It will be blocked until the end of the lease or until the prior agreement of the two tenant / lessor parties to release the rental guarantee from Belfius.

The money invested will earn interest which will be paid to you at the end of the lease contract if the tenant has of course fulfilled all his obligations to his lessor.

The request for a blocked account to place the rental guarantee can be initiated on the Internet on the general public site of Bank Belfius. However, an account manager will organize an appointment at the branch to finalize the opening of the bank account.

Banking institutions have more and more due diligence rules to be observed when opening a bank account, this does not yet allow a fully digital subscription to be offered as part of the opening of a rental guarantee account.

In general, the deadline for setting up a rental guarantee with the Belfius bank is at least one week. The back office processing to produce the rental guarantee certificate adds a second week for the lessor to obtain the certificate guaranteeing that the tenant has blocked the required amount of guarantee.

The bank guarantee is a contract between a guarantor (here a bank) and a guarantee (here the tenant) aimed at covering a risk. In this specific case the rental guarantee will be constituted by monthly payment up to 3 months rent.

It is possible to obtain a release of the funds blocked in your bank account at Belfius before the end of the rental agreement. To recover the funds blocked at Belfius under the rental guarantee, read our article on releasing the rental guarantee.

The rental guarantee service e DEPO is offered by the Belgian administration through the Myminfin portal of the FPS Finances. The e DEPO application allows you to block funds at the Caisse des Dépôts et Consignations. The DEPO service is therefore a public service, while the BELFIUS banking network is a private bank offering its customers a rental guarantee management service.