0€ security deposit

In most of our apartments, the security deposit is 0€.

Please note that in some cases the deposit may be different. If you have payment default records, or if your country of residence is outside Finland and we cannot check your credit information, the deposit may be higher. However, the deposit can never be more than the legal maximum, which is the amount of three months’ rent.

Security deposit VS. guarantee rent?

In everyday language, security deposit and guarantee rent usually mean the same thing: a sum of money given to the landlord before the lease starts to secure the rental agreement.

The purpose of the deposit is to protect the landlord if the rent is not paid or if the apartment is damaged. When the lease ends, the deposit is returned to the tenant if the rent has been paid as agreed and the apartment is in good condition. The official term is security deposit, but we usually just call it a deposit.

If a deposit is collected, it may be used at the end of the lease to cover unpaid rent or other costs caused by the tenant not following the rental agreement, such as repair costs.

The deposit can be paid in cash, as a bank guarantee, or with a payment commitment from Kela. The deposit is usually equal to 1–3 months’ rent.

The term guarantee rent is used less often and usually means the same as a security deposit. It is sometimes confused with advance rent, which is part of the rent and not a deposit. We never charge rent in advance. Rent is always due on the 2nd day of each month.