RENTAL DEPOSIT, when is it to be paid

RENTAL DEPOSIT and why it needs to be paid in time

The rental guarantee can legally be requested from 3 months before the start of the rental agreement.

For practical and administrative reasons, For Rent Leuven requires the rental guarantee to be paid no later than 1 week before the start of the rental agreement.

This allows us to complete all necessary preparations in time, to allow you a smooth check-in upon arrival, including:

• organising the inventory/check-in inspection;

• preparing and sending access codes;

• scheduling the check-in;

• completing the necessary administration and practical arrangements;

• Avoid administrative hassel in case of issues or delays in transfer caused by the bank.

The start of each semester and academic year is an exceptionally busy period, with many tenants leaving and arriving within a short timeframe.

Last-minute administration or payment processing cannot be accommodated logistically.

Important: access to the building and the studio can only be provided once the rental guarantee has been received in our account and the payment has been confirmed.

Rental Guarantee – What else you need to know

Under Article 62 of the Flemish Housing Rental Decree, the following rules apply to the rental guarantee for student accommodation:

1. Maximum amount

The rental guarantee may not exceed two months’ rent.

The calculation is based on the rent excluding charges for energy, water and telecommunications.

2. When can the guarantee be requested?

The landlord may request the rental guarantee as of 3 months before the rental agreement starts.

This means that requesting the guarantee before this three-month period is not permitted.

3. How can the guarantee be provided?

The tenant can choose how to constitute the guarantee:

• An individualised blocked account in the tenant’s name at a financial institution; or

• Payment of the guarantee into an account specified by the landlord.

The rental agreement must specify how the rental guarantee is provided.

Where the guarantee is paid into the landlord’s account, the landlord owes interest on the amount at the average market interest rate. The interest starts from the moment the guarantee is paid and is capitalised.

4. What happens at the end of the tenancy?

If the tenant has fulfilled all contractual obligations, the rental guarantee and if applicable interest are returned to the tenant.

If there are, for example:

• unpaid rent;

• damage to the studio or its contents;

• consumption to be settled;

• or other outstanding contractual obligations,

the rental guarantee may be used to compensate the landlord for the corresponding financial loss.

5. Release and repayment of the guarantee

The guarantee can only be released on the basis of a written agreement between tenant and landlord, made after the end of the tenancy; or

Where the guarantee was paid into the landlord’s account, the landlord must return it within three months after the tenant has vacated the property, unless the landlord disputes the return of the guarantee by registered letter within that period.

In short: the rental guarantee is a statutory protection for both parties. It is limited to a maximum of two months’ rent, canbe requested as of three months before the start of the tenancy, and is returned at the end of the tenancy provided all contractual obligations have been fulfilled.