Security Deposit
The landlord may request a rental guarantee from the new tenant. This guarantee serves as a safeguard for the landlord, ensuring that they are not left without compensation if the tenant fails to meet their obligations.
What forms can a rental guarantee take?
For leases entered into or renewed as of November 1, 2024, the security deposit cannot exceed an amount equivalent to two months' rent.
The Brussels Housing Code describes five forms of guarantee:
- An individual account opened in the name of the tenant. The interest earned shall be capitalized for the benefit of the tenant and the landlord shall acquire a lien on the assets of the account for any claim resulting from the total or partial non-performance of the tenant's obligations.
- A bank guarantee resulting from a standard contract between the Public Centre for Social Welfare (PCSW) and a financial institution
- A bank guarantee from an authorized financial institution that allows the tenant to gradually build up the guarantee by means of constant monthly payments over the term of the contract, with a maximum of three years.
- A real security with an authorized financial institution, in the name of the tenant.
- A personal guarantee.
What happens at the end of the lease?
At the end of the lease, the rental guarantee and any interest are returned to the tenant, provided they have fulfilled all their obligations.
The financial institution can only release the guarantee upon production of:
- a written agreement between the tenant and the landlord, drawn up after the end of the lease. This could be a letter or a special form provided by the bank and signed by both parties;
- or a copy of an enforceable judgement.