The rental deposit surety bond takes effect on the agreed start date – usually the beginning of the tenancy – and no later than the date of issuance. The exact date can be found on the insurance confirmation or the surety certificate.
The surety bond is valid indefinitely and ends with the release of the certificate or a written notification from the landlord, or in the event of a claim.
The contract is concluded for one year and is automatically renewed for a further year unless the tenant cancels the contract in accordance with the applicable GTC.
Gut zu wissen
There is no minimum term. The contract can be cancelled at any time, provided the landlord receives an alternative, equivalent form of security for the tenancy agreement. The surety obligation ceases upon receipt of the release from the landlord.
