The security deposit
Real estate rental
The lessor of a rental property may require the tenant to provide a rental guarantee equivalent to 2 or 3 months’ rent, depending on the region in Belgium. It must be lodged when the lease is signed, or in the month following occupancy. This rental guarantee will be used to cover any damage caused by the tenant at the end of the lease.
To obtain a rental guarantee without making a bank deposit, simply request a deposit from garantie.be by clicking on online rental guarantee.
What is a rental deposit?
This is a sum of money equivalent to two or three months’ rent. This sum is blocked in favor of the lessor of the property.
There are several ways to build it:
- Make a bank guarantee at the bank of your choice. The bank acts as guarantor for the tenant. In return, the tenant replenishes the guarantee by making regular monthly payments. The maximum period for reconstituting the guarantee is 3 years. The bank guarantee is arranged by appointment with the bank.
- Obtaining a rental deposit without blocking funds with Garantie.be. Simply apply online guarantee request and attach the required documents. The process is simple, fast and secure. Immediate processing means you can obtain your guarantee in just a few hours.
- Make a Korfine guarantee by blocking the funds. Korfine is a life insurance broker. The tenant deposits the entire rental guarantee in a contract. The procedure is online and requires printing, signing and returning documents. It takes just a few days to obtain.
- Open an escrow account at a bank. All funds are deposited and blocked until the end of the lease. The guarantee can only be released with the agreement of the landlord and tenant. The process takes a long time, as you need to make an appointment with the bank.
What is the rental deposit used for?
The deposit is used by the landlord to protect himself against damage or non-payment by the tenant. It cannot be used to pay rent during the lease. Damages are quantified during an inventory of fixtures.
How do I get my security deposit back?
There are several scenarios for the return of the security deposit:
- Full refund if the tenant has no debts or damage
- Partial refund after deduction of any damage
- No refund if damage exceeds the guarantee amount.
In some cases, the deposit may not be sufficient to cover all costs. To request the return of the deposit, please complete the rental guarantee release.
Rental guarantee without rental deposit
It is possible to obtain a rental guarantee without tying up money with a bank.
You need to apply for a online rental guarantee with Garantie.be. You can obtain a rental deposit in just a few hours. The process is very quick because it’s done online. There’s no need to go to the bank or print out any documents.
The rental deposit on SPF Finances' e-DEPO website
This online guarantee fund blocking service is offered by the Service Public Fédéral (SPF). The tenant makes his deposit with the caisse des dépôts et consignation in Belgium. The e-Depo rental guarantee is accessible via the MyMinfin portal. The process is quick, but a national identity card is required to connect to the online service.
