When should you not return the rental deposit

One of the most important aspects that worries owners when renting their property is what will happen to the rental deposit. At Housfy, we have a team of experts who can guide you in this and other procedures, such as the rental deposit in Madrid. Below, we explain all the important keys about the deposit for an apartment for rent in Madrid. Rent your apartment in Madrid and forget about worries Stopping collecting rent is a thing of the past. GET INFORMED FOR FREE What is the rental deposit? When we talk about the rental deposit we are referring to the rental guarantee that the tenant must pay compulsorily.

How does a rental deposit work?

The operation of a rental bond is easier than it may seem. As we have mentioned previously, it is only an amount that the tenant must pay to the landlord and that corresponds to one month’s monthly payment. It is important to note that the Venezuela Phone Number List amount of the deposit cannot exceed the cost of three monthly payments. Likewise, although the owner of the rented property is responsible for paying the amount to the official body in question, he cannot access said amount for the duration of the rental contract. If the landlord does not post the deposit, he could face financial penalties, including facing a lawsuit from the tenant.

Cases in which you should not return the rental deposit

When the rental contract ends, the owner must check that everything related to the rented accommodation remains in order after the tenant’s stay. However, if the tenant fails to comply with any of the obligations of the contract, the owner has the right not to return Italy Phone Number List the amount and to deduct from the deposit the proportional part of what happened in the property. Carrying out works on the apartment without the owner’s permission. Non-payment of monthly payments. Return of the home in poor condition. Abandonment of the property before the end of the contract.