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How do apartment deposits work with bank guarantee option?
I'm signing a two-year lease for an apartment tomorrow. The lease requires that I put two months' worth rent in an account as a deposit. My boss told me that banks can "guarantee" this amount for a set fee, like 30 euros per month, so I'm not simply losing access to a large amount of money for two years. So how does this work? If I leave at the end of the two years and the landlord wants some of the deposit money, where would he actually get that money from? Me or the bank? Anyone with experience or knowledge, I'd appreciate any advice. Thanks.
To my knowledge, the banks no longer do "guarantees" (at least Fortis doesn't). You have to deposit two months guarantee in an account in joint names (yours and your landlord's). Before you vacate the apartment, there will be an inventory to check that all is left in their first state and only when the landlord gives the OK, you can take your money bank. Please wait for other comments, or better still, ask your bank directly.
