Try Dorit for FreeCash Deposit (key money)
A sum paid upfront by the tenant via cash or bank transfer to secure their obligations under the lease agreement.
A cash deposit (often referred to as key money) is paid to the landlord when signing the lease and returned at move-out, provided the property is free of damage and all debts are settled. This cash portion cannot exceed its allowed share under the legal maximum guarantee cap of 3 months' rent.
The main benefit of a cash deposit is its simplicity, as it avoids bank fees or complex legal paperwork. The downside is that the landlord holds your money directly, making you dependent on their good faith for its return. Always insist on a signed written receipt and use a traceable payment method (a bank transfer is far safer than physical cash).
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Related terms
Security Guarantee Cap (3 Months' Rent)
Under the law, a landlord can demand guarantees up to a total maximum value of 3 months' rent.
Return of Security Guarantees
The legal obligation to return all financial guarantees to the tenant when the lease ends, deducting only proven damages or outstanding debts.
Bank Guarantee
A formal commitment from a bank to pay the landlord a specified sum if the tenant fails to fulfill their obligations under the lease.
The information in this glossary is for general informational purposes only and does not constitute legal advice. In the event of a dispute or a specific legal question, consult an attorney specializing in tenancy law.