How (not) to lose your deposit
The main reason for dispute between landlord and tenant is the calculation of refundable deposit when moving out. At the beginning of the lease period, everyone generally expects to receive the deposit back at leaving. However, through the duration of the contract, there is almost always something unexpected that happens in the flat. This could very well mean a deduction from the deposit, or the landlord may also be eligible to keep the entire amount.
When signing any kind of contract, we take responsibility to abide by it’s rules and regulations. It’s no different at lease contracts, even more so, since when renting, we are taking up the responsibility of caring for someone else’s property.
When signing a lease contract that’s for a definite period of time (eg. 1 year), it is not advised to leave before the end time of the contract. In such case, the deposit will not be refunded, as it count as a sort of compensation for the owner. In may cases, the owner is understanding and if the relationship was good, they will return the deposit or a part of it, given that there’s no debt or damage in the flat.
That’s why- among other factors- it’s important to take good care of the flat and it’s equipment. When moving out, all damage repair costs will be deducted from the deposit. This can occasionally mean even tens or hundreds of thousands of forints lost. This can almost always be avoidable with a little attention and care. Whenever you notice an issue or damage, notify your landlord immediately to avoid further dilapidation.
Payment due dates stated in the contract are also significant. 8 days of lateness is acceptable by general rule of thumb. It is called a grace period during which the landlord may notify you to pay up as soon as possible. When the 8 days pass, the landlord usually has several ways of sanctioning you. They can either charge a late fee, or even termite the contract immediately. In this case, however unfair it seems, they have the right to keep the deposit. If the lateness is a constant issue every month, it can become frustrating and uncomfortable for both parties. The best solution is to have a chat about it, try setting a later due date and modify the contract accordingly.
Last but not least, if all these tips don’t work out, try getting the help of a professional who knows the rights and obligations and knows what to do in these situations to settle the differences, so in the end, everyone can be happy.