Guarantee Scheme in Rotterdam
Since 2015, the Guarantee Fund has offered affordable guarantees to tenants in Rotterdam as an alternative to the cash security deposit (max. €650 one-time fee). Ideal for the tight rental market in districts such as Kralingen or Delfshaven. Fully covered by the fund, without interest for the Rotterdam landlord and with quick processing via local partners.
Bank Guarantee for Rotterdam Rental Contracts
The tenant in Rotterdam provides a bank guarantee equivalent to 1-3 months' rent, in line with the city's average rental prices (around €1,200-€1,800). Costs amount to 1-2% per year. In case of default, the landlord can claim directly from the bank, in accordance with Rotterdam rental practices.
Advantages and Disadvantages Specific to Rotterdam
| Option | Advantages in Rotterdam | Disadvantages |
|---|---|---|
| Security Deposit | Simple and familiar to real estate agents | Tied-up capital in an expensive market |
| Guarantee Scheme | Low rate, suitable for starters | Some administration via the fund |
| Bank Guarantee | No cash tied up, flexible | Annual costs (1-2%) |
Legal Equivalence in Rotterdam
Article 7:249 of the Dutch Civil Code (Burgerlijk Wetboek, BW) recognizes these alternatives as equivalent to the security deposit, including for rental properties in Rotterdam. The choice lies with the tenant, but always check the specific requirements of Rotterdam housing corporations such as Woonbron or Havensteder.