According to the statistics, there are about 5 million relocations per year in Germany, affecting more than 8 million people. A move brings in itself huge expenses. This situation is exacerbated by the security deposit, which is payable at the signing of the contract.
Although the legislature limited their amount to 3 monthly flat rents, it is nevertheless a considerable amount, especially if an additional brokerage fee is due. Often a loan for the rental deposit without Private Credit seems to be the only way out.
Pay the rent deposit in installments
It is of course possible to take out a loan for the rental deposit without Private Credit, but not necessarily because of the costs associated with the loan. There are better and, above all, cheaper solutions to pay the rent deposit. The legislature has recognized the large burden that represents the rent deposit and therefore created the opportunity to pay the amount in 3 installments. Thereby you do not incur any costs. The landlord is obliged to agree to the installment, if you ask him. This makes depositing the deposit affordable for most.
What other options are offered?
If you are lucky, you may not need to pay any rent deposit or take out a loan for the rental deposit without Private Credit. For example, you can take out a rental deposit insurance. This works by insuring the landlord with an amount equal to the rental deposit. As a tenant, you will be released from the payment of the deposit.
Instead, you have to pay a small premium to your insurance company every year. If you want to move out again, cancel the rental deposit insurance. Of course, you can only use the insurance if the landlord agrees. There is another possibility, which should be interesting especially for unemployed and recipients of Hartz 4. This group of people usually does not get any credit for the rental deposit without Private Credit, instead they contact their local Job Center.
If there are valid reasons for your move, the office will in many cases take the bail. But that does not affect brokerage days. You have to bear their own costs. The trick with the rental deposit is very simple. You need to talk to the landlord or the job center and report your problems, and you will also get the support you need to solve your problem. But wrong shame or shyness will not help you because nobody can offer you help if you can not or do not want to communicate your problems. A loan for the rental deposit without Private Credit would be possible, but is expensive.