Moving costs a lot of money, everyone knows that who has already moved one or more times in their lives. In addition to the fees for the real estate agent, the costs of moving with a moving company, there are often also costs for renovation and for the purchase of new furniture.
And that’s not all, because landlords want a deposit, which often has to be deposited in a separate account when the lease is signed. As a rule, there are three net rents that are due – if you rent an expensive apartment, you have to pay a correspondingly high rent deposit. Given the many additional costs that movers expect, it makes sense to take at least one loan for rent deposit to keep money free for other important expenses related to the move.
The dilemma with the rent deposit
Tenants who already live in a rented apartment are guaranteed to have deposited a rent deposit in the previous apartment. Anyone who thinks that the deposit will only be increased a little and then deposited with the new landlord will be disappointed. The old rent deposit is only returned when the tenancy has ended.
The new rental deposit must be paid in advance. An inescapable double burden that makes a loan for rent deposit seem sensible. The advantage of this loan is that it can be taken out with a short term because, in theory, it can be redeemed when the old deposit is refunded.
What type of loan for rent deposit makes sense
Many consumers do not apply for a rental deposit loan, which is to be repaid in fixed installments, but use their overdraft facility to bridge the double burden. This is a good option, but it only works if the overdraft facility has not been exhausted. It should also be borne in mind that the overdraft facility is an expensive loan that should only be used if it can be settled within three months. After all, overdraft interest is almost always payable on the overdraft facility.
A loan for rent deposit, which is repaid in monthly installments, is much cheaper and therefore the preferred option. Here you can freely choose the term and loan amount. Ideally, a credit comparison should be made in advance in order to find a really cheap offer. It should be noted that it should be a loan that can be repaid free of charge and with which free special repayments are easily possible.
Carefully plan the loan for the rental deposit
If there are other expenses in connection with the move, the financing of which is not secured, the credit does not have to be limited to the rent deposit to be paid.
A corresponding installment loan, with which the largest part of the moving costs including the rent deposit can be borne, is just the right thing in such a case. If special repayments are allowed, the rent deposit from the old apartment can be used for repayment.
Requirements for lending
Credit – no matter what – consumers only get if they have the appropriate creditworthiness and can prove it. If there is an intention to take out a loan for a rent deposit or for the move, it is important to have perfect credit information and a regular, attachable income from a permanent position.
Married couples or couples in a marriage-like community should submit the loan application together, which increases the chances of quick approval. The cheapest offers can be found with the help of a free credit comparison.
When recipients move
Even people without a job and without attachable income are sometimes forced to move because the family is about to be announced or the apartment is too big. However, recipients of social benefits are generally unable to cover the cost of moving or to pay a rent deposit.
Office help is available for this situation. Many job centers also provide the rental deposit when an application is made. Which, however, must also be repaid.