Security deposit when renting an apartment

”Nothing strengthens the sense of trust between the Landlord and the Tenant better than the security deposit does”. Proverb

Ten years ago one our colleague who has successfully completed her career as the real estate agent - she married a Frenchman, told me with excitement how she and her husband were renting an apartment in Paris. And what was the biggest surprise for her, who spent four years in a segment of "luxury apartments rent in Kyiv". "Can you imagine - she said - the landlord has require the security deposit equal to three months rent". In those days we certainly have heard about the security deposit which is taken by the Landlord while signing the lease and is the guarantee of apartment and property security. But in practice such measure of insurance was not used. On the one hand, it was the Tenant’s market, on the other – there was a little number of renovated (Western standard) apartments. It was a common practice to ask the Tenant for the semi-annual or annual rent at once. And this was a kind of integrity guarantee for the both parties.

But times have changed. And today the security deposit upon signing the lease is an elementary feature of business culture. The apartment’s owner while giving the keys to the Tenant confides his property of more than one hundred thousand hryvna worth. And the first minimum guarantee of careful handling and regular rent payments will be security deposit which will be returned to the Tenant after completion or preliminary termination of the lease, owner’s accepting of the apartment and payment of all debts.

And please do not confuse the security deposit with the term "the first and last months rent at the beginning of the lease" which is frequently used in the Lease Agreement. This is not a security deposit. The last months rent is just the last month rent and nothing more!

Real estate agency "Teren Plus" is your adviser on property rent. Property management in Kyiv. Apartments for rent in Kyiv downtown. Kyiv daily rent.