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Depositum
What is Depositum?
Depositum, originating from Roman law, is commonly understood today as a security deposit in rental agreements. This deposit is a sum of money that tenants pay to landlords at the start of a lease, acting as a safeguard against potential damages, or other lease violations. Typically, the deposit is refundable at the end of the lease term, provided the property is returned in good condition, barring normal wear and tear.
How does it work?
When you sign a rental agreement, you may be required to pay a depositum, which is often equivalent to three months rent – sometimes up to six months. This amount is held by the landlord and can be used to cover any damages or unpaid rent. For example, if you accidentally damage a wall during your tenancy, the landlord may deduct the repair costs from your depositum when you move out.
Common rules or requirements
| Rule/Requirement | Description |
|---|---|
| Deposit Limit | Many jurisdictions limit the amount that can be charged as a security deposit, often to one or two months’ rent. |
| Separate Account | Landlords may be required to keep the deposit in a separate, interest-bearing account. |
| Return Timeframe | Most states mandate that landlords return the deposit within a specific timeframe after the lease ends, typically between 21 to 30 days. |
| Deduction Allowances | Landlords can deduct from the deposit for unpaid rent, damages beyond normal wear and tear, and cleaning costs. |
Example
Imagine you are renting an apartment in Copenhagen and pay a depositum of 10,000 DKK. After your lease ends, you leave the apartment in good condition, but the landlord claims you owe for cleaning. If they deduct 1,000 DKK for cleaning from your depositum, they must provide a statement explaining the deduction.
Quick Tips for Expats
- Document the condition of your rental unit with photos when you move in and out to avoid disputes over damages.
- Familiarize yourself with local laws regarding security deposits to understand your rights and obligations.
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