The
rental bank guarantee
Bank guarantees for rental deposits
To take out a “bank” rental guarantee, you need, as the name suggests, to contact a bank and submit a specific application for a bank guarantee. The bank-issued guarantee enables a tenant to provide a payment guarantee to the landlord. The tenant’s bank acts as guarantor for the tenant, who pays the bank back the amount on a monthly basis over the first 3 years of the lease.
To obtain a rental guarantee certificate in just a few hours, simply complete the form by clicking on online rental guarantee.
What is the rental bank guarantee?
The bank rental guarantee is a guarantee given by the bank to the landlord on behalf of the tenant. The bank’s guarantee covers the tenant’s rental commitments under the lease contract. The bank has the tenant sign a guarantee contract, which commits him/her to replenishing the guarantee amount with the bank during the first few years of the property lease.
How does a rental bank guarantee work?
The bank guarantees the tenant to the lessor for the amount of the rental guarantee specified in the lease. In exchange, the tenant undertakes to pay the bank the amount of the guarantee in monthly instalments. In general, the bank sets a deadline of between 1 and 3 years for the tenant to make up the amount of the bank guarantee in monthly instalments. If the tenant suspends monthly payments, the bank will demand immediate payment in full of the guarantee.
Can I set up a rental bank guarantee online?
Banks have set up online processes to formalize an application for a rental bank guarantee. However, not all steps can be carried out online. All banks require at least one appointment with a branch to formalize the commitment. Acceptance of the application is not automatic; it is subject to the decision of an internal committee at each bank.
Which bank offers a rental bank guarantee in Belgium?
The bank issuing the rental bank guarantee is the one with which the lessee has a bank account that receives his or her income or replacement benefits. Most banks in Belgium offer a rental bank guarantee service.
- Discover the ING Rental Bank Guarantee
- Discover the BNPPARIBAS Fortis rental bank guarantee
- Discover the KBC bank rental guarantee
- Discover the Belfius rental bank guarantee
How to release the rental bank guarantee?
The bank guarantee is released in the same way as the traditional rental guarantee, which is blocked in a bank account. The bank pays out the amount blocked in the guarantee according to the information provided jointly by the tenant and the landlord. In most cases, both parties provide a jointly signed inventory of fixtures. If the parties do not agree, the bank will only release the rental guarantee on the basis of an enforceable court judgment.
