GARENTII – Renting without a security deposit

15. October 2024

Dear Tenants,

We are pleased to offer you a new option for securing your rental deposit. Velero has partnered with GARENTII, a company that provides rental deposit guarantees for tenants.

With a GARENTII deposit guarantee, you no longer need to provide a large cash deposit, which is often a financial burden. Instead, GARENTII covers the deposit on behalf of the landlord in the event of damages and then arranges repayment with the tenant afterward. As a tenant, you pay an annual fee that is significantly lower than the deposit amount, giving you more financial flexibility for moving expenses or other purchases.

The annual fee (optionally payable monthly) for the deposit guarantee starts at just 1% of the deposit amount. This fee is charged as long as the guarantee is in place but does not replace the actual deposit. It simply covers the cost of providing the guarantee.

Using the GARENTII deposit guarantee is entirely voluntary for you as a tenant. Of course, you can still choose to secure the deposit in the traditional way by placing it in a rental deposit account.

All details and terms must be arranged directly with GARENTII.

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