KBC rental guarantee
KBC is one of Belgium’s leading banks. It is active not only in banking, but also in insurance. It is the second largest bancassurance company in Belgium.
In Belgium, the Group’s brands vary from one community to another:
- KBC is present in Flanders and the German-speaking Community of Belgium;
- The KBC Brussels branch is present only in Brussels;
- The CBC Banque & Assurance section focuses on the French-speaking community of Belgium, with the exception of Brussels;
What is the KBC rental guarantee?
The principle of setting up a rental guarantee was put in place to protect landlords in the event of tenants failing to meet their lease commitments. This guarantee covers the financial risks associated with renting. It is mentioned in the law on residential leases, but is not mandatory. However, it is mandatory for most residential leases. To find out whether your lease contract is subject to a rental guarantee, simply read it and discover how the tenant’s commitments are guaranteed.
By law, the rental guarantee can be provided by blocking the sum of money on an individualized bank account. In Belgium, KBC Bank offers this service of opening a dedicated bank account for the rental guarantee. The individualized account opened with KBC Bank to hold the amount of the guarantee is in the tenant’s name. It will be blocked until the end of the lease, or until both tenant and landlord have agreed to release the rental guarantee with KBC Bank.
Complete our online form to obtain your rental guarantee in just a few hours. You don’t block any money, because we work like a bank rental guarantee.
How does the KBC rental guarantee work?
KBC’s rental guarantee takes the form of a blocked account opened in the tenant’s name. The tenant deposits the amount of 2 or 3 months’ rent requested by the landlord, which remains inaccessible for the duration of the lease. The account is secure and cannot be used without the written agreement of both parties. At the end of the rental contract the funds can be released, in full or in part, depending on the inventory of fixtures and any rental debts.
Can I take out a KBC rental guarantee online?
Yes, KBC allows you to set up a rental guarantee online provided you are already a customer of the bank. The process can be launched via the mobile app or the website, with electronic validation of the lease contract and amounts. However, if you are opening an account for the first time or have a complex application, you may need to make an appointment at a branch.
How long does it take to set up a rental guarantee with KBC?
The time it takes to set up a rental guarantee with KBC depends mainly on the availability of the tenant’s funds and the completeness of the documents. If everything is in order and the customer already has a KBC account, the guarantee can be set up in 24 to 48 hours.
On the other hand, for new customers or incomplete applications, the process can take up to a week.
Early release of the KBC rental guarantee
It is possible to obtain a release of the funds blocked in your KBC account before the end of the lease. To recover the funds blocked within KBC for the rental guarantee, read our article on the releasing the rental guarantee.
