Security deposit

Amount of security deposit in POAS apartments depends on the size of the apartment:

• room in a shared apartment 200 €
• studios and 1-bedroom-apartments 300 €
• 2-bedroom-apartments 450 €

Security deposit is paid to POAS’s bank account before your tenancy begins. You will get the invoice from POAS. Receipt of the paid deposit has to be presented when picking up the keys. The keys will not be handed over if there is no proof that the deposit has been paid. Please note that we only accept security deposits paid in cash to our account. We do not accept Kela’s or social services’ commitments, assistance vouchers or financial guarantees.

Please note possible banking fees when making payments from outside SEPA area. The payer is responsible of all fees and the full security deposit needs to be paid to POAS account. Ask more information from your own bank.

Security deposit is not same as a forehand rent. Therefore, the security deposit cannot be used to cover unpaid rents during the term of the tenancy. The deposit shall remain untouchable until the end of the tenancy. The security deposit will be handed over to POAS as a confirmation of the fulfilment of all terms and conditions of the tenancy agreement (rent, separate compensations, management obligation for the apartment). No interest is paid for the security deposit.

Refunding the security deposit

The apartment in inspected after the rental agreement has ended. POAS refunds the security deposit to the tenant’s bank account within three (3) weeks of the tenant returning the keys, or after a potential new inspection when the apartment is vacated, unless it is necessary to make deductions from the deposit. Usually the security deposit is refunded on the 15th day of each month. Please note that it may take few banking days before the payment appears on the tenant’s bank account.

The following can be deducted from the deposit:

• Lessor’s receivables (rent and other fees, debt collection and legal costs, penalty interest)
• Reprogramming of locks, replacement of lost/missing keys, office fees
• Repairments of intentional damages to the apartment
• Cleaning and repairs commissioned by the lessor due to the tenant’s neglection of caring the apartment
• Other incurring costs in accordance with the current price list