When you moved in, a rental deposit was established, for example with Korfine or another financial institution. This article explains how the deposit will be refunded.

1. When moving out of your rental unit, a move-out expertise will be conducted by an independent expert.
2. The expert will deliver his report to both of us.
3. If there are any damages, they will be deducted from the rental deposit.
4. Our accounting department will create a final settlement.
5. We will then prepare the necessary documents to release the rental deposit.

Final settlement

Your final settlement will take into account:

• Any unpaid invoices until the date of the settlement
• Damages as observed by the expert during the move-out expertise
• Settlement of the common and private charges, based on the yearly charges settlement of last year + 10% (in accordance with your lease contract)
• Refund of any guarantees

You will receive a detailed overview of all costs and refunds.

Rental deposit release

You will receive a document with details on the release of the rental deposit. Depending on the costs and refunds of the final settlement, the document will be prepared to:

• Release the full rental deposit to you (in case there are no costs left to pay)
• Release the rental deposit partially to us, and partially to you
• Release the full rental deposit to us

If you are entitled to a refund greater than the rental deposit, you will be asked for your account number for refunding the remaining amount. If the outstanding charges are greater than the rental deposit, you will be asked to transfer the remaining balance to our account.

Timeline

Please take into account that we need to wait for input from several parties, like our accounting department or the move-out expert. We legally have 2 months to provide you the final settlement and release the rental deposit - but rest assured we'll try our best to get everything sorted out as soon as possible.